China Coal Energy's 3Q Net Profit More Than Doubled

By Yifan Wang

China Coal Energy Co.'s net profit more than doubled in the third quarter amid sharply higher coal prices in the country due to supply tightness.

The coal producer said its net profit came in at 4.27 billion yuan (US$667.9).

Revenue jumped 62% to CNY63.02 billion, on the back of significant increases in coal product prices, as well as a higher sales volume.

For the first nine months of the year, net profit nearly tripled to CNY11.86 billion.

Write to Yifan Wang at [e-mail]

(END) Dow Jones Newswires

10-27-21 2008ET