China Gas reports HK$5b income, plans to give shares to staff

Business | 27 Nov 2020 7:31 pm

China Gas (0384) said interim profit for the end of September 30, increased by 3.7 percent on-year to HK$5.09 billion.

Revenue was HK$27.2 billion, a year-on-year drop of 2.7 percent.

The basic earnings per share were HK97.53 cents.

China Gas declared an interim dividend of HK$10 cents per share.

Gas sales volume increased by 8.4 percent to 12.83 billion cubic meters, with 7.60 billion cubic meters sold through retail business, up by 10.5 percent.

Meanwhile, the National Development and Reform Commission promoted natural gas city gate price cuts with to reduce users' energy costs, which promoted growth in monthly gas use in China.

The company also announced a share award scheme to recognize contributions by directors, senior management, consultant, and employee of any member of the group.

Chairman Liu Minghui, said the maximum number of shares that may be awarded shall not exceed 1 percent of the issued share capital of the company in any 12-month period.

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