The company, which operates the larger of Hong Kong’s two electricity providers, said in an exchange filing on Monday that its earnings rose to HK$11.74 billion (US$1.51 billion) from HK$6.66 billion a year earlier. Revenue rose 4.3 per cent to HK$90.96 billion.
Analysts surveyed by Bloomberg had expected a profit of HK$10.96 billion and revenue of HK$85.68 billion.
“Our wholly owned subsidiary EnergyAustralia achieved a significant improvement in its financial performance in 2024, buoyed by the strong performance of generation assets which outweighed continuing pressure on retail business,” CLP said.
“Throughout the year, the business successfully invested in flexible capacity initiatives to support Australia’s clean energy transition while enabling affordable, reliable electricity to customers.”
EnergyAustralia reported an operating profit of HK$591 million last year, swinging from a year-earlier loss of HK$182 million, CLP said. CLP’s operating profit before fair value adjustments rose 0.8 per cent from a year earlier to HK$8.9 billion.
Source: SCMP
