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China Shenhua flags 1% YOY drop in H1'19 profit on lower coal sales

China Shenhua Energy Co. Ltd. expects its attributable first-half net profit to tick 1% lower on a yearly basis at about 24.2 billion Chinese yuan.

The company said Aug. 9 that lower coal sales and an increase in production costs of self-produced coal weighed on its results.

China Shenhua also noted that during the period, it strengthened operational synergies related to production, transportation and sales as well as cash management.

The company's commercial coal production in the first half dropped 0.3% year over year to 145.4 million tonnes.