Kinetic Development Group (HKG:1277) expects net profit of 730 million yuan to 780 million yuan for the six months ended June 30, up 31% to 40% year over year, based on preliminary unaudited results.
The company attributed the growth mainly to an 18% rise in average coal selling prices, while average product costs fell 9% to 12%, according to a Monday Hong Kong bourse filing. Administrative and selling expenses also declined by about 5% to 7%.
Shares of the company jumped 9% in recent trade.
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