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CLP Holdings posts 42% drop in net profit for H1

Aug. 15, 2012 (China Knowledge) - CLP Holdings Ltd<0002>, Hong Kong's biggest power supplier, announced yesterday that its net profit plunged 42% YoY to HK$3.36 billion in the first half of this year, due to a write-down of its Australia power assets.

The Hong Kong-listed company realized HK$46.16 billion in revenue, 13% more than the HK$40.68 billion in the same period of last year.

CLP Holdings proposed a dividend of 53 HK cents for Q2, up from 52 HK cents for the same period of 2011.

The company said that it has hired financial advisors to assess the possibility of listing fully-owned energy unit TRUenergy on the Australian Securities Exchange. The possible listing could provide a return on capital to the company and raise funds for future investments of TRUenergy.

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