GD Power Development Co, a unit of one of China's five largest electricity producers, said yesterday that profit last year surged 68 percent as the company increased output to meet demand in the world's fastest-growing major economy.

Net income climbed to 1.68 billion yuan (US$232 million), or 0.66 yuan a share, from one billion yuan, or 0.41 yuan a share, a year earlier, based on domestic accounting standards, the Beijing-based company said in a preliminary earnings statement to the Shanghai Sock Exchange.

Sales rose 33 percent to 17.5 billion yuan, Bloomberg News reported.

The utility has added capacity to benefit from soaring electricity demand spurred by an economy that expanded 11.5 percent in the first three quarters of last year.

The company increased power generation by 14 percent in 2007 to 65.8 million megawatt-hours, GD Power said on January 5.

Power sales to the nation's grid increased 13 percent to 61.4 million megawatt-hours, the company said earlier this month.

GD Power received government approval to buy stakes in six power plants from its parent for 3.2 billion yuan, China Guodian Corp said in June.