CLP Holdings 2017 Net Profit Rises 12%, Boosted by Overseas Operations
By Joanne Chiu
CLP Holdings Ltd. (0002.HK) reported a 12% increase in 2017 net profit, driven by growth in its businesses in Australia and India.
The Hong Kong-listed electricity producer, which supplies power to Kowloon and the New Territories, said Monday its full-year profit was 14.25 billion Hong Kong dollars (US$1.82 billion), up from HK$12.71 billion a year earlier. The result was better than the HK$12.91 billion forecast of 9 analysts polled by S&P Global Market Intelligence.
CLP Holdings said its operating earnings rose 7.9% to HK$13.31 billion in 2017, and revenue was up 16% to HK$92.07 billion from HK$79.43 billion a year ago.
It declared a fourth interim dividend of HK$1.14 a share, bringing the total dividend for 2017 to HK$2.91 a share, 3.9% higher than the HK$2.80 a share it paid the previous year.
Controlled by Hong Kong's wealthy Kadoorie family, CLP Holdings is the larger of two power providers in the city.
Write to Joanne Chiu at email@example.com
(END) Dow Jones Newswires
February 25, 2018 23:55 ET (04:55 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.