China Yangtze Power's Profit, Revenue Rose in 3Q
By Joe Hoppe
China Yangtze Power Co. said Friday that its pretax profit and
revenue rose in the third quarter, on the back of strong demand and
The Chinese hydropower company, listed in Shanghai and recently
in London, said that for the three months to Sept. 30 it made a
pretax profit of 15.40 billion yuan ($2.29 billion), up from
CNY11.43 billion for the same period last year. The company
attributed the rise in profit to the large amount of electricity it
sold in the flood season, and the acquisition of Peruvian electric
utility company Luz del Sur SAA during the reporting period.
Operating revenue rose to CNY22.95 billion, from CNY17.72
billion for the year-earlier period.
Shares at 0917 GMT were up CNY0.06, or 0.3%, at CNY18.96.
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(END) Dow Jones Newswires
October 30, 2020 05:44 ET (09:44 GMT)
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