For the final quarter and year ended April 30, the company reported record annual revenue of $US224 million, up year-on-year from $109 million.

Income from continued operations rose slightly as well, to $37 million from $31 million in 2010.

L&L chief executive officer Dickson Lee looked to the company’s implementation of its expansion plans for the growth.

“In April of 2011, the last month of the fourth quarter, we cooperated with local authorities to slow down mining production to enforce safety standards, which was the primary reason we missed our guidance on net income for this fiscal year,” he said.

“Our results for this fiscal year continue to illustrate our ability to increase the production capacity of our existing operations, conduct accretive acquisitions, such as the DaPing mine, as well as our flexibility to work under increasing government safety requests."

Among that growth was L&L’s Guizhou coal mining consolidation, which commenced in April. In May, the operator announced it announced the establishment of the Yunnan L&L Tai Fung wholesale operation in the Yunnan Province.

Tai Fung includes the newly established coal wholesale operation as well as its existing Hong Xing washing facility.

L&L holds 98% of the project in joint venture with an unnamed entity, and expects its annual revenue to total $US81 million.

The company said the wholesale operation would move 100,000 tons of coal per year, which would add an estimated $17 million in revenues, and would reap revenues of about $66 million from an expansion of Hong Xing that will up its annual process budget to 600,000t.

Tai Fung is open for business; L&L publicly announced the venture this week but held a grand opening ceremony with the local industry, business leaders and government officials on May 19.

L&L projected at that time that about 500,000 tons of coal would be available in 2011, and at least that much in 2012. The tonnage should be shipped to the Zhanjiang Port in China’s Guangdong Province as well as other Asian port facilities.

In March the company launched a coal sorting business at its Xing An complex.

The new arm, officials said at the time of its announcement, was designed to source raw coal from inner Mongolian producers via railcar and then clean and sort the coal at the facility at Xing An, in the northern region of the Heilongjiang Province near the Russian border.