Datang Int'l Power profit up nearly 29% for H1
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Datang International Power, a plc 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 U.S. dollars).
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.
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.
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