China Coal Energy (01898) said it expects net profit attributable to shareholders for the year ended 31 December 2014 to decrease by 75% to 85% as compared to the same period of 2013.
Such expected decline is due to continuing downturn of coal market, substantial decline in the price of coal and corresponding decrease in the profit of coal enterprises caused by various factors such as slowdown in the macroeconomic growth and sluggish demand growth from downstream industries.
Its annual results announcement is expected to be published before the end of March.