Skip to content
Subscriber Only

China Resources’ Profit Rises Amid Purchase Cost Controversy

China Resources Power Holdings Co., alleged to have deliberately overpaid for coal assets, posted a 78 percent increase in first-half profit as lower prices of the fuel helped reduce costs.

Net income rose to HK$5.33 billion ($687 million), or HK$1.12 a share, for the six months ended June 30 from HK$3 billion, or HK$0.63, a year ago, the company said today in a statement to the Hong Kong stock exchange.