Shenhuo Coal & Power Expects H1 Profit to Soar By 152%; Shares Up 10%
Henan Shenhuo Coal & Power (SHE:000933) forecast first-half attributable net profit will soar by 152% to 4.80 billion yuan from 1.90 billion yuan in the previous year, according to a Shenzhen bourse filing on Friday. Earnings per share are expected to rise year on year to 2.17 yuan from 0.86 yuan. The forecast was attributed to higher selling prices for aluminum and coal. The Chinese coal mining company's shares jumped 10% during the afternoon trade.
Henan Shenhuo Coal & Power (SHE:000933) forecast first-half attributable net profit will soar by 152% to 4.80 billion yuan from 1.90 billion yuan in the previous year, according to a Shenzhen bourse filing on Friday.
Earnings per share are expected to rise year on year to 2.17 yuan from 0.86 yuan.
The forecast was attributed to higher selling prices for aluminum and coal.
The Chinese coal mining company's shares jumped 10% during the afternoon trade.