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China Resources Power 1st Half Net Profit Rose 35.8%

By Yi Wei Wong

 

China Resources Power Holdings Co. (0836.HK) said its first-half net profit rose 35.8% because of lower fuel costs.

Net profit for the first half was 4.02 billion Hong Kong dollars (US$512.1 million), compared with HK$2.96 billion in the same period a year ago, the power company said Wednesday.

Revenue for the period fell 16.3% from a year earlier to HK$32.92 billion due to the disposal of several coal plants, it said.

China Resources Power attributed the higher profit to cheaper fuel to run its coal-fired plants.

 

Write to Yi Wei Wong at yiwei.wong@wsj.com

 

(END) Dow Jones Newswires

August 14, 2019 01:38 ET (05:38 GMT)

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