Breaking News
FONT-SIZE Plus   Neg
Share SHARE

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.

Click here to receive FREE breaking news email alerts for Huaneng Power International and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A number of major retailers will be open on Thanksgiving for early Black Friday shopping events. Kohl's department stores will kick off Black Friday sales two hours earlier this year, at 6 p.m. Thanksgiving Day, while Macy's, Bon-Ton and Best Buy will open at the same time. J.C. Penney and Sears... Twitter Inc. has replaced its head of product Daniel Graf just six months after luring him over from Google, according to multiple reports. Graf, previously known for his work leading Google Maps, will retain his vice president of product title and work on Twitter's geolocation features, the Wall... LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.