China's Daqin Railway net profit up 63.79% in H1
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Daqin Railway Co. Ltd., operator of China's largest coal transport line, said Monday that its net profits rose by 63.79 percent for the first half of 2010 compared to one year earlier.
Net profits totaled 4.64 billion yuan (682.47 million U.S. dollars) and earnings per share stood at 0.36 yuan, up 63.64 percent from last year, the company reported in a statement filed with the Shanghai Stock Exchange.
During the first six months of 2010, Daqin Railway saw its revenues increase by 37.97 percent over last year to 14.02 billion yuan due to an increased volume of coal transports, said the statement.
The company also said its railways had carried 202 million tonnes of coal, a year-on-year increase of 27.5 percent.
The rise in coal transportation stemmed from China's accelerated industrial growth, sustained high level of fixed asset investment and recovering exports, which had boosted the sectors of thermal power generation, iron and steel making as well as the manufacturing of concrete and fertilizer, according to the statement.
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