China Coal’s First-Quarter Profit Rises 16% as Prices Gain

Bloomberg reported that that profits for China Coal (HKG:1898) were up in the first quarter on strong prices and rising demand for coal.

The market news is quoted as saying:

China’s economy expanded 9.7 percent in the first three months, beating a forecast in a Bloomberg survey of economists for growth of 9.4 percent and boosting demand for energy and raw materials. China Coal increased the selling price of the commodity by 5 percent in the first quarter compared with a year earlier, data from the statement showed.

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