Better than expected profit fuels rise in China Gas Holdings

China Gas Holdings share price jumped six per cent on Thursday morning after the company unveiled a better-than-expected annual profit.

The Shenzhen-based firm, which has exclusive gas distribution concessions in 172 mainland cities, on Wednesday posted an 84.9 per cent jump in net profit to HK$1.76 billion for year to March 31. That was 21 per cent higher than the HK$1.46 billion average estimate of 21 analysts polled by Thomson Reuters.

The company’s shares were up six per cent at HK$7.73 in the morning session on Thursday.

via Business feed http://www.scmp.com/business/companies/article/1270219/better-expected-profit-fuels-rise-china-gas-holdings