Henan Shenhuo Coal reaps RMB 1.15 bln in profit in 2008

Apr. 14, 2009 (China Knowledge) - Henan Shenhuo Coal Industry and Electricity Power Co Ltd<000933>, engaged in the manufacture, processing and sale of coal and aluminum products, as well as the generation of electricity, posted RMB 1.15 billion in net profit for 2008, a year-on-year increase of 36.98%, sources reported. Last year, the operating revenue of the Shenzhen-listed company totaled RMB 12.01 billion, surging 38.33% from the previous year. Earnings per share were RMB 2.299. The firm took a RMB 192 million provision for devaluation of aluminum inventory last year. In the same year, the enterprise's 69.38%-owned Henan subsidiary suffered losses of RMB 217 million, whereas it earned RMB 162 million in net profit in 2007. The energy company plans to exceed RMB 10 billion in operating revenue in its core business this year. Copyright © 2009 www.chinaknowledge.com