Shenergy H1 Earnings Down 15.8%

Date:2011-08-31     Source:xuxinlile  Text Size:

August 30 -- Shenergy, a provider of electricity, natural gas, and crude oil, reported a 15.79 percent year-on-year decrease in net profit to 754 million yuan in the first half of 2011, with earnings per share of 0.16 yuan, reports, citing a company filing.

Sales revenue rose 20.63 percent year-on-year to 11.21 billion yuan.

The company posted a 25 percent year-on-year increase in power generation volume to 15.5 billion kilowatts in the first six months, while crude oil production volume was 39,400 tons.

Gas sales volume increased 25 percent year-on-year to 2.81 billion cubic meters in the first six months, with production volume of 148 million cubic meters.

The company attributed the decrease in net profit to the higher purchase price of fuel. In the same period last year, the company had sold part of its financial assets.


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