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Huaneng Power International's 2011 profit down 50%

Jan. 31, 2012 (China Knowledge) - Huaneng Power International Inc<600011><0902>, China's largest listed power company, said yesterday that it expected its net profit to fall more than 50% year on year in 2011.

The company said in a statement that the sharp drop in net profit was due to rising fuel costs and higher interest expenditure.

In 2010, the company's net profit was RMB 3.35 billion under International Financial Reporting Standards.

The company said earlier that its power plants in China generated 313.55 terawatt hours (TWhs) of electricity last year, 22.03% more than in 2010.
The power producer's electricity sales reached 295.72 TWhs in 2011, 22.30% more than in 2010.

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