China Resources Power: 1st Half Net Profit Falls 65% to HK$1.85 Billion

By Chester Yung Features Dow Jones Newswires

Utility company China Resources Power Holdings Co. (0836.HK) Wednesday reported a 65% fall in its first-half net profit, partly due to higher fuel costs.

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The Hong Kong-listed company said its profit for the six months ended June fell to 1.85 billion Hong Kong dollars (US$236 million) from HK$5.34 billion a year earlier, while its revenue rose to HK$34.09 billion from HK$30.97 billion a year earlier. It proposed an interim dividend of 12.5 Hong Kong cents a share.

Looking ahead, China Resources Power said it expects coal prices to decline in the second half with a series of measures taken by the Chinese government to increase coal supply.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

August 16, 2017 00:45 ET (04:45 GMT)