Huadian Fuxin says profits grow 19.6% y/y in Q3 2016
Wind farm in China. Author: David Schroeter. License: Creative Commons, Attribution-NoDerivs 2.0 Generic
Chinese power plant operator Huadian Fuxin Energy Corp (HKG:0816) on Monday posted an attributable net profit of about CNY 1.77 billion (USD 260m/EUR 240m) for the third quarter of 2016, up 19.6% on the year.
The group saw its consolidated operating profit for the reporting period increase to CNY 2.78 billion from CNY 1.97 billion.
Third-quarter revenue reached CNY 12.03 billion, growing from CNY 11.19 billion in 2015, Huadian Fuxin said in its July-September financial statement on the Hong Kong Stock Exchange.
As at the end of June 2016, Huadian Fuxin’s attributable consolidated installed capacity amounted to 14,541 MW. This included 6,506 MW of wind parks and 812.2 MW of solar farms.
For the first nine months of this year, the output of the company’s wind and photovoltaic (PV) plants grew by 39.1% and 19.3% year-on-year to 8,771,588 MWh and 844,728.2 MWh, respectively. For the third quarter of 2016 alone, they produced 2,321,749 MWh and 289,055 MWh.