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Earnings from the company's Hong Kong operations rose 16 pct to 2.75 bln hkd, which includes a 310 mln hkd deferred tax adjustment gain arising from the reduction of the Hong Kong profits tax rate to 16.5 pct from 17.5 pct.
Earnings from international operations were up 35 pct to 424 mln hkd due to higher operating revenue and higher exchange translation gains on Australian dollar-denominated income.
The company declared an interim dividend of 0.62 hkd.
Unit sales of electricity in Hong Kong in the first half were 1.7 pct lower than in the first six months of last year, due to cooler and wetter weather early in the year and the effect of various energy saving initiatives.
The company said its expects the lower level of electricity sales experienced in the first half of 2008 to continue in the second half.
Rising coal prices are expected to result in higher fuel costs for 2008, putting significant pressure on tariffs, it noted.
It added that it will continue to make international acquisitions so as to continue to grow its international earnings base.
(1 usd = 7.8 hkd)
roby.lau@xfn.com
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