HK Electric Investments (2638) reported an interim net profit of HK$1.01 billion, up 5.7 percent from last year, and declared an interim distribution of 15.94 HK cents per share stapled unit.
The company's revenue slipped slightly to HK$5.57 billion. Electricity sales for the first half were 3.2 percent below the same period last year, mainly due to milder weather, the success of energy-saving initiatives among customers, a challenging operating environment for the catering and retail trades, and the absence of a leap day.
Earnings before interest, taxes, depreciation, and amortization in the first half stood at HK$3.98 billion, a mild drop compared with the HK$3.99 billion seen in the same period last year.
The fuel clause charge in August fell more than 16 percent compared to January, amid worldwide declines in fuel prices, and the net tariff in August was accordingly reduced by 4.4 percent to 15.96 HK cents per unit of electricity.
The company said it maintained a world-leading supply reliability rating of over 99.9999 percent, meaning that each customer experienced, on average, less than 0.5 minutes of unplanned power interruption per year, according to an exchange filing.
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