CLP’s net profit sinks 42% to HK$3.36b in 1H12

Hong Kong power supplier's earnings was down from HK$5.8 billion last year.

A 13% rise in revenue to HK$46.16 billion from HK$40.68 billion, however, was insufficient to offset the significant losses caused by a flood that forced the closure of CLP’s power plant in Victoria, Australia.

CLP is one Hong Kong's two power providers and its three power stations cover Kowloon and the New Territories. It also provides electricity to Guangdong province in China.. The company, whose core business is the generation, transmission and retailing of electricity, has power plants in Australia, Taiwan, India, and Thailand.

Hong Kong’s other power company is Hong Kong Electric Holdings Ltd that serves Hong Kong Island and Lamma Island.