Yanzhou on the up

HIGHER coal prices and strong demand has put Hong Kong-listed coal producer Yanzhou Coal Mining in the enviable position of being able to predict a net profit year-on-year rise of 50% for the first nine months of this year.
Yanzhou on the up Yanzhou on the up Yanzhou on the up Yanzhou on the up Yanzhou on the up

 

Angie Tomlinson

"In the second half of 2004, the demand in both domestic and overseas coal markets is expected to remain strong and the price of coal to move at a high level, which is favorable to the company in achieving a significant growth in its operating results," Yanzhou said.

Yanzhou said the average price of coal on the Chinese market in the second half of 2004 is expected to be higher than in the first half, while reporting its average coal price for the first-half was 227.88 yuan a ton, up 32.8% from a year-ago, China’s Business Daily reported.

The company previously reported a half year net profit to June of 1.22 billion yuan (US$147 million).

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