CLP operating earnings up by 7.2%

CLP's operating earnings increased 7.2 per cent in 2010 from 2009 to HK$9,148 million.

The Group's total earnings, which include the tax consolidation benefit of HK$989 million from Australia, the gain of HK$356 million on the sale of its 70 per cent interest in the Anshun II coal-fired power station in Guizhou Province, China, and the impairment provision for investment of Roaring 40s of HK$258 million, rose to HK$10,332 million, an increase of 26.1% over the previous year.

According to the group, the financial results reflect both a general improvement in operating conditions and the effective mplementation of its overall business strategy.

"This strategy is to ensure a continued focus on the enhancement of our core Hong Kong electricity business, accompanied by targeted investment in our four major business streams outside Hong Kong, namely Australia, the Chinese mainland, India and Southeast Asia and Taiwan," the group stated in its website.