HONG KONG – 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.
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(END) Dow Jones Newswires
August 16, 2017 00:45 ET (04:45 GMT)