China Yangtze Power Profit Falls on Low


Low river levels in May and June cut into Yangtze Electric Power Co.'s profits, which fell 7 percent in the first half of 2006 despite the addition of new generators.

But Yangtze Power's profit was expected to be flat for the whole of this year as higher water levels in the third quarter would help the company produce more power, analysts said.

Lower output in the second quarter led to a 1 percent drop in first-half revenues.

Yangtze Power, which controls generation at China's Three Gorges project, said Tuesday it earned 1.32 billion yuan in the first half, on revenues of 2.98 billion yuan.

"In 2006, average water levels on the Yangtze were low. After abundant water in February and March, other months were relatively dry, especially May and June, and not suitable for electricity generation," Yangtze Power said in its earnings statement.

Electricity output in the first half of the year fell 6.44 percent in volume terms, it said.


2005- All Rights Reserved 京ICP备05069564号-1 京公网安备1101054484号