logo
Share SHARE
FONT-SIZE Plus   Neg

Huaneng Power Sees Threefold Increase In 2012 Profit

Independent power producer Huaneng Power International, Inc. (HNP: Quote) Sunday said, based on preliminary estimates, it expects net profit attributable to its shareholders in full-year 2012 on China Accounting Standards, to increase by more than 340 percent from last year.

According to the Beijing, China-based company, the estimated profit increase was mainly due to carry-over effect of tariff adjustments in 2011, decrease of coal price in 2012, as well as its effective cost controls.

Huaneng stated that the relevant financial data is still under audit process, as its power plants are widely situated in many provinces and cities across the country and the company owns assets within and outside the country.

In last July end, Huaneng had reported an 87.64 percent increase in first-half profit attributable to equity holders. Consolidated operating revenue was RMB 67.180 billion, representing an increase of 4.88 percent compared to the same period last year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Internet giant Google Inc. (GOOGL, GOOG) has launched a new online flight search tool that makes it easy to find out the best flight deal. The tool dubbed "Google Flights" provides a calendar that one can scroll through and see the lowest fare highlighted for each day. One can also use the lowest... Hyperloop Transportation Technologies, a start-up that has adopted Elon Musk's ambitious project of high-speed transportation system, plans to build a Hyperloop test track in California and completed as early as 2016. Hyperloop Test Technologies, a crowd-funded company, plans to take Musk's dream... Colors have set the social media afire after an otherwise innocuous photo of a bodycon dress kept users guessing as to what hues permeate it. Opinions are divided, with some seeing the dress as white and gold, and others as blue and black. The photo was posted on Tumblr by a user called Swiked.
comments powered by Disqus
Follow RTT