Guangdong Electric Power Development reported a healthy increase in net profit for the six months to June 30 of 308.96 million yuan (about HK$287.48 million) from a 267.79 million yuan profit for the same period last year. During the first half the group derived 1.19 billion yuan from the sale of electricity compared with 1.03 billion in the first six months of last year. Net profit rose 15.37 per cent. A number of adverse factors hindered profit-making during the first half of the year, Guangdong Electric Power said. These included slow growth in demand for electricity and competition from other hydro-electric plants in the province.