China Coal Energy Co. said Tuesday its 2010 net profit rose 4.4% as it boosted coal production to meet an increase in domestic demand.
The country's second-largest coal producer by revenue said its net profit for the 12 months ended Dec. 31 was CNY6.91 billion ($1.05 billion) under Chinese accounting standards, up from CNY6.62 billion in the previous year.
Revenue rose 33% to CNY71.27 billion from CNY53.73 billion.
China Coal Energy said in January it produced 123.3 million metric tons of coal last year, up 22% from 100.8 million tons in 2009.
China is the world's biggest coal producer and also the world's largest coal consumer. Coal accounts for about two-thirds of the country's total primary energy consumption.
