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Power Assets posts higher first-half profits YOY

Hong Kong-based electric utility Power Assets Holdings Ltd. said its profit attributable to shareholders rose to HK$4.12 billion in the first half from HK$4.02 billion in the same period of 2017.

Diluted earnings came in at HK$1.93 per share, up from HK$1.89 per share.

Revenue totaled HK$769 million, up from HK$631 million. Operating profit fell to HK$852 million from HK$1.09 billion.

The company also reported a share of profits less losses of joint ventures totaling HK$2.66 billion, up from HK$2.44 billion.

As of July 25, US$1 was equivalent to HK$7.8457.