Shanxi Coking Coal Group Co Ltd, parent of the country's largest publicly traded coke producer Shanxi Coking Co Ltd, recorded sales revenue of RMB 13.11 billion for the first quarter of this year, up 1.47% compared with the same period of last year.
The company said in its quarterly report that it produced about 16.86 million tons of raw coal during the period, 10.4% less than that of a year ago. Output of clean coal and coking coal hit 8.08 million tons and 469,000 tons, representing a year-on-year decrease of 12% and 32% respectively.
During the period, the group generated about 1.51 billion kWh of electricity, down 4.5% from a year earlier.
Meanwhile, the company adjusted its production plan for the second half of 2009 in accordance with the sluggish coal market, with the target raw coal output being cut by over 2 million tons to 78 million tons.
The company expects its revenue and net profit for the first half of this year to hit RMB 26 billion and RMB 1.5 billion respectively.
SourcE: China Knowledge
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