* Sees 2011 EPS $1.33, up 42 pct from projected 2010 levels
* Sees 2011 rev more than double projected 2010 levels
* Shares rise as much as 10 pct
May 18 (Reuters) - Coal company L & L Energy Inc LLEN.O forecast strong 2011 results on higher Chinese coal demand, sending its shares up as much as 10 percent Tuesday morning.
L & L currently expects to earn $1.33 a share in 2011, up 42 percent over its 2010 profit view. It expects revenue to more than double from its 2010 projections to $218 million.
“As a result of a drought in southwestern China, demand for coal in China is extremely high as coal-fired power plants are being utilized to offset decreases in hydropower output,” the company said.
L & L added that coking coal, an essential material in steelmaking, had also seen recent high levels of demand and subsequent price increases.
Shares of the company rose 10 percent to a high of $10.68, before paring some gains to trade up 32 cents at $10.05.
The stock was among the top percentage gainers Tuesday on Nasdaq. (Reporting by Adveith Nair in Bangalore; Editing by Prem Udayabhanu)