Puda Coal Inc, a supplier of high-grade metallurgical coking coal to the industrial sector in China, has posted US$90.5 million for the fourth quarter of last year, reflecting an increase of 50.3% year on year, according to a statement filed with the New York Stock Exchange.
The company saw gross profit soar 73.6% year on year to US$9.2 million with gross margin hitting 10.2% in the fourth quarter of 2010.
In the reporting period, the firm's net profit reached US$4.4 million, compared with US$2.3 million in the fourth quarter of 2009. Diluted earnings per American Depositary Share reached US$0.18, higher than US$0.15 in the fourth quarter of 2009.
For a whole-year basic of 2010, the coal supplier booked US$324.8 million in operating revenue, US$41.2 million in gross profit, US$23.5 million in net profit and US$1.15 in diluted earnings per ADS.
As of Dec, 31, 2010, Puda Coal had US$156.2 million in cash, whereas it had US$19.9 million at the end of 2009.
