Statistics

Datang Int'l Power net profit up 29% in H1

(Xinhua)
Updated: 2010-08-20 14:03

BEIJING - Datang International Power, a public unit of China Datang, a major Chinese power producer, said Friday its net profit for the first half of the year rose 28.88 percent year on year to 829.75 million yuan ($122.5 million).

H1 operating revenue hit 28.95 billion yuan, up 39.6 percent year on year, the listed company said in a statement to the Shanghai Stock Exchange.

Earnings per share rose 26 percent year on year to 0.069 yuan.

Related readings:  Datang International Power invests $576m in mainland's gas project  China Datang expects 2009 profit to jump 120%  Net profit of Datang Power surges 55.7% in H1  Datang Power 2008 net down 79%

The company attributed its profit growth to China's increased demand for power amid the nation's robust economic performance in the first half of the year.

From January to June, China's gross domestic product (GDP) grew 11.1 percent year on year while the country's power consumption increased 21.57 percent year on year, according to the statement.

China Datang has a controlling stake of 35.08 percent in Datang International Power.

As of 10:20 a.m Friday, Datang International Power shares on the Shanghai bourse were up 0.08 percent to 7.22 yuan.