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Leshan Electric's profit down 85% in H1 2012

Jul. 30, 2012 (China Knowledge) - Leshan Electric Power Co Ltd<600644> announced its net profit attributable to shareholders decreased 84.58% from a year earlier to RMB 9.25 million in the first half of 2012.

The huge decline in net profit was mainly affected by the polysilicon business and the weak sales of coal, said the company in a statement.

The power company saw its basic earnings per share for the period hit RMB 0.03, less than RMB 0.18 it realized in the first six-month of 2011.

From January to June 2012, the company's operation revenue dropped 40% YoY to RMB 692 million.

In the same period, Leshan Electric Power generated 0.24 terawatt hours (TWhs) of electricity, up 24.52% YoY, Meanwhile, the sales of electricity, gas and water reached 0.91 TWhs, 47.8 million cubic meter and 10.33 million cubic meter, respectively.

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