Falling fuel cost lifts hopes for CR Power

China Resources Power expects this year's fuel cost per unit of output to fall at least 5 per cent while electricity price will be stable, which will bode well for its profitability.

The electricity arm of state-backed China Resources (Holdings) yesterday posted a net profit of HK$7.48 billion for last year, up 68 per cent from 2011 and 7.8 per cent higher than the HK$6.93 billion average estimate of 25 analysts polled by Thomson Reuters.

Excluding foreign-exchange gains or losses, underlying profit surged 129 per cent, CR Power said.

via Business feed http://www.scmp.com/business/companies/article/1194097/falling-fuel-cost-lifts-hopes-cr-power