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China Coal Energy flags up to 68.3% jump in 9-month net profit

China Coal Energy Co. Ltd. expects to book an attributable net profit of between 4.90 billion Chinese yuan and 5.30 billion yuan in the nine-month period that ended Sept. 30, representing a year-over-year increase of between 55.6% and 68.3%.

The improvement is attributable to stable economic development in China, allowing the company to expand its market share, further its reform, innovation and potential exploration as well as strengthen cost controls, according to an Oct. 15 release.

China Coal Energy will release its nine-month results before the end of October.

As of Oct. 12, US$1 was equivalent to 6.92 Chinese yuan.