Xinhua reported that Daqin Railway Co Ltd operator of China largest coal transport line net profits rose by 63.79%YoY for the first half of 2010 compared to one year earlier.
The company reported in a statement filed with the Shanghai Stock Exchange that net profits totaled CNY 4.64 billion and earnings per share stood at CNY 0.36 up 63.64%YoY from last year. During the first six months of 2010, Daqin Railway saw its revenues increase by 37.97% over last year to CNY 14.02 billion due to an increased volume of coal transports.
The company also said its railways had carried 202 million tons of coal up by 27.5%YoY.
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According to the statement the rise in coal transportation stemmed from China accelerated industrial growth, sustained high level of fixed asset investment and recovering exports which had boosted the sectors of thermal power generation, iron and steel making as well as the manufacturing of concrete and fertilizer.(Edited by EnergyChinaForum.com. For more information, please email to: info@energychinaforum.com)
(Xinhua,Sep 3,2010)
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