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
'Booth babes' will not be seen at the RSA Conference scheduled to be held next month, as the exhibitors have added a new clause to its rules that ban revealing clothes. Although, RSA did not use the term "booth babe," its contract clearly explains that staff deployed at booths should wear business... Election fever has gripped the UK as Prime Minister David Cameron on Monday urged his people to prudently choose either a prosperous future under his Conservative Party or economic ruin under the Labour Party headed by Ed Miliband. Fast food giant McDonald's Corp. (MCD), reportedly plans to serve its breakfast menu for the whole day. According to a CNBC report citing analysts from Janney Capital Markets, McDonald's is planning to test serve breakfast for the whole day at select locations starting in the next few months. "Our...
comments powered by Disqus
Follow RTT