Shanxi Coke Group Q1 profits down 50 percent
Post Date: 13 May 2009 Viewed: 1011
Shanxi Coke Group attained a main business revenue of 1.08 billion yuan in the first quarter of 2009, down 27.13 percent year-on-year; and a profit of 27.95 million yuan, down 50.9 percent. Driven by the government’s economic stimulus plan, the group is expected to have an income revenue of 3.87 billion yuan and a profit of 71.22 million yuan in the second quarter and become profitable in the fourth quarter. Shanxi Coke Group manages 10 firms at prefecture-level and 259 coking plants at county-level in the province, and runs 12 subsidiaries. Its output accounts for a third of the country’s total coke output.