China Datang Int'l Power sees profit double in 2012
BEIJING -- Datang International Power, a listed unit of China Datang, a major Chinese power producer, said Monday its net profit surged 109.82 percent year on year to 4.01 billion yuan ($639.6 million) in 2012.
Business revenue rose 7.21 percent from a year earlier to reach 77.6 billion yuan during the period, the listed company said in report filing to the Shanghai Stock Exchange.
Earnings per share rose 103.31 percent to 0.301 yuan.
The company attributed its profit surge to effective control of fuel cost, power price hike, as well as its capital management.
The company generated 202.14 billion kWh of electricity last year, down 0.77 percent from a year earlier.
China Datang has a controlling stake of 31.1 percent in Datang International Power.
