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Shaanxi Coal flags return to profit for H1'16


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Shaanxi Coal flags return to profit for H1'16

said July 14 that it expected to swing to a net profit attributable toshareholders of between 150 million Chinese yuan and 280 million yuan in thefirst half, which compares to a net loss of 954.8 million yuan a year ago.

Thecompany closed less efficient production facilities in central China, whichlowered production costs and improved profitability. A hike in prices of coalproducts in the first half also contributed to earnings, Shaanxi Coal said.

As of July 14, US$1 wasequivalent to 6.69 Chinese yuan.