China's power plants forecast profit plunge on higher coal price

01/19/2009 (2 h 50 m ago)

China's power producers are expected to record a 50 percent to 60 percent drop in net profit --or even losses -- compared with the previous year due to soaring coal prices, according to statements to the Shanghai and Shenzhen stock exchange markets over the weekend and on Monday.

SDIC Huajing Power said its 2008 net profit fell more than 60 percent. That was compared with the 550 million yuan (80.48 million U.S. dollars) net profit in 2007 with earnings per share at 0.63 yuan, according ...

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