Yanzhou’s Strong 2017 Results In Line; Capacity Expansion Continues to Drive Growth in 2018
In addition to the year-over-year coal price gains, no-moat Yanzhou Coal’s strong 2017 result also reflects the company’s aggressive capacity expansion following the commencement of Zhuanlongwan and Shilawusu coal mines and a five-month contribution from newly acquired Coal & Allied in Australia. Net profit came in at CNY 7.4 billion, up 346% year over year, driven by significant 28% volume growth in coal production, as well as a 26% rise in coal selling prices against flat coal production c...
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