The Financial Times

Coal supplier’s shares may look cheap at 12 times forecast earnings. But this is pricey

A healthy canary meant a healthy mine in the old days. Strong 2016 results from China Shenhua Energy might equally suggest the country’s coal industry is in good shape. The largest-listed coal supplier by sales registered its first net profit growth in four years. On Monday, the shares rose as much as 20 per cent on news of a special dividend. The euphoria may not last.

Read the full article on The Financial Times website here.