October 07, 2008

Daqin Railway 2007 net profit up by 38.37% YoY

It is reported that Daqin Railway Co Ltd, which accounts for 21.46% of China's total coal traffic, net profit in 2007 rose by 38.37% YoY to CNY 6.11 billion on increased rail cargo volumes for coal.

Daqin Railway said operating revenue also rose by 25.89% YoY to CNY 20.86 billion, out of which 97.02% was accounted by the coal transport business. Its operating costs totaled CNY 9.49 billion up by 19.14% and earnings per share stood at CNY 0.47 against CNY 0.39 in 2006.

In 2007 it reported coal traffic volume of 325 million tonnes as compared with 273 million tonnes in 2006.

Daqin Railway said it expects rising depreciation and financial expenses in 2008. It sees 2008 operating revenue of CNY 22.5 billion and a volume increase of 50 million tonnes.

Daqin Railway also plans to expand its fleet by about 360 electric locomotives and 3,000 cars in 2008.