China Coal Energy Co Ltd, the country's second-largest coal miner by revenue, announced yesterday that its net profit in 2012 fell 4.0% YoY to RMB 9.28 billion under Chinese accounting rules, due to low coal price.
Basic earnings per share were RMB 0.70, and the company proposed a final dividend of RMB 0.21 per share, according to the firm's annual report.
Operating revenue dropped 3.9% YoY to RMB 87.29 billion last year. Revenue from coal business decreased 3.0% YoY to RMB 71.78 billion, and that from coal coking sector dived 21.1% to RMB 4.19 billion.
The firm's overall gross profit margin climbed 2.8 percentage points to 36.2% in the year.
The output of commercial coal rose 9.7% to 114 million metric tons in 2012, and sales of commercial coal grew 7.9% to 149 million metric tons.
