Yanzhou Coal bullish on first-half results

Yanzhou Coal Mining expects first-half net profit to soar more than 80 per cent from 2.72 billion yuan (HK$3.23 billion) in the first six months of last year. First-quarter net profit rose 17.9 per cent to 2.48 billion yuan on a 15.9 per cent rise in sales and an 18 per cent jump in average selling price. Production cost per tonne of sales grew 15.4 per cent. Yanzhou Coal is forecast to post a net profit of 9.96 billion yuan for the whole of this year, up 7.3 per cent from last year, according to the average estimate of 25 analysts polled by Thomson Reuters.