Datang's profit up on higher output
Datang International Power Generation, the flagship listed vehicle of mainland power producer China Datang Group, saw first-quarter net profit rise to 87.2 million yuan (HK$104 million) from 15.5 million yuan a year earlier. Revenues grew 6.4 per cent to 15.64 million yuan. The firm attributed the higher profit to new generation capacity and output, and higher profits from non-power businesses like coal production. Still, 25 analysts polled by Thomson Reuters forecast net profit to fall to 2.49 billion yuan this year from 2.57 billion yuan last year.