Utility profit dims

2009-1-23 | NEWSPAPER EDITION

CHINA Yangtze Power Co, operator of the world's largest hydropower project, said net income last year fell 27 percent to 3.93 billion yuan (US$575 million).

Net income last year fell from 5.37 billion yuan in 2007, the company said in a statement to Shanghai Stock Exchange yesterday, without giving a reason. Earnings per share fell to 4.01 yuan from 4.38 yuan a year earlier, it said.

Thermal loss

CHINA Yangtze Power Co, operator of the world's biggest hydropower project, said first-half profit fell 35 percent because of higher asset depreciation costs and lower investment gains from thermal power projects....