Company Update
For the six months ended 30 June 2019, the company’s revenue was HKD 2,004.0 million (corresponding period in 2018: HKD 1,310.8 million), representing an increase of 52.9%. Revenue from power sales and waste treatment was HKD 853.8 million (corresponding period in 2018: HKD 763.2 million), representing an increase of 11.9%. The operating profit was HKD 566.0 million (corresponding period in 2018: HKD 440.1 million). Profit attributable to equity holders of the company was HKD 400.8 million (corresponding period in 2018: HKD 318.0 million), representing an increase of 26.0%. Basic earnings per share was HK16.3 cents (corresponding period in 2018: HK13.0 cents). The interim dividend of HK3.2 cents per ordinary share for the six months ended 30 June 2019 (six months ended 30 June 2018: HK1.9 cents per ordinary share). The company’s performance of core business is basically consistent with our forecast, related performance increase in total revenue was mainly contributed by the construction revenue from the additional projects. Additionally, Xinfeng WTE plant and phase 2 of Beiliu WTE plant commenced trial operation, and phase 1 of Lufeng WTE plant commenced trial operation in 2018Q3. Together with the stable contribution from the existing plants, the company recorded satisfactory results.