Huaneng Renewables Corp: Expect 1H Net Profit to Rise Over 50% on Year

   By Chester Yung 
 Stock Market Quotes, Business News, Financial News from

HONG KONG–Chinese energy firm Huaneng Renewables Corp. Ltd. (0958.HK) said Friday it expects its first-half net profit to rise over 50% from a year earlier, thanks to the higher power generation and effective cost control.

The Hong Kong-listed company didn’t specify its expected net profit for the six months ended June. It had posted a net profit of 1.13 billion yuan (US$169 million) a year earlier. For the first half of 2016, the company recorded a 31% increase of its gross power generation compared with a year earlier, it said.

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