Yanzhou Coal Reports Lower First Quarter Profit

Bloomberg reported that lower prices and higher costs caused an 11% drop in Yanzhou Coal’s (NYSE:YZC) first quarter profit.

As quoted in the market news:

Net income declined to 2.2 billion yuan ($349 million), or 0.4457 a share, from 2.48 billion yuan, or 0.5034 yuan, a year earlier, the Shandong-based company said today in a statement. Sales gained 54 percent to 14.4 billion yuan.

Click here to read the full Bloomberg report.