Hong Kong CLP net profit surges 145pc to $11.4b

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(The Standard)

CLP (0002) said its net profit surged by 145 percent year-on-year to HK$11.46 billion last year, due to significant impairment of EnergyAustralia’s retail goodwill of HK$6.381 billion recognized in 2019.

The electricity provider did not consider declaring a special dividend for its 120th anniversary, chief executive Richard Lancaster said.

It declared a fourth interim dividend of HK$1.21 per share, up 1.7 percent year-on-year. The basic earnings per share were HK$4.53.

However, the consolidated revenue fell 7.1 percent from a year ago to HK$79.59 billion.

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