Guangdong Electric Power 2011 Earnings Up 15.7%


Guangdong Electric Power Development (000539) posted a 15.66 percent year-on-year rise in 2011 sales revenue to 14.62 billion yuan, while net profit declined 53.47 percent to 356 million yuan, reports, citing a company filing.
The company plans to distribute cash dividends of 0.6 yuan (including tax) for every 10 shares held.
According to Guangdong Electric Power, higher operating costs, rising financial expenses, and assets impairment were the main reasons for the fall in net profit.
The company completed cumulative electricity generation capacity of 35.31 billion kWh in 2011, up 13.02 percent. It plans to increase output by an additional 4.02 billion kWh to 36.95 billion kWh in 2012.
The installed capacity of power generation equipment controlled by the company totaled 8.08 million kilowatts.
Guangdong Electric Power Development intends to spend 2.64 million yuan on overseas investments. The capital will come mainly from internal funds and loans.

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