CLP Holdings reported a first-half profit of around HK$6 billion on Thursday, up 6.6 percent from the same period last year.

The power firm said its earnings growth was driven by the steady performance of its business in Hong Kong, improved earnings elsewhere, plus a one-off gain of HK$318 million from the sale of a power station in India.

The group’s first-half earnings from its Hong Kong energy business rose six percent to HK$4.7 billion, while its mainland business grew 3.3 percent to about HK$900 million.

Earnings from its operations in Australia and India also jumped by over 30 percent.

The company declared a second interim dividend of 63 Hong Kong cents per share, unchanged from last year.

Looking ahead, CLP said the ongoing global fuel price volatility is expected to continue to affect electricity tariffs.

Asked how the firm aims to minimise the impact of elevated oil prices, chief executive Chiang Tung-keung said CLP maintains a diversified fuel mix.

The group, he added, would continue to monitor the market and make monthly tariff adjustments.

"From January to August this year, electricity tariffs in Hong Kong rose by around four percent, which was far lower than the fluctuation in oil prices," Chiang noted.

"We anticipate that, in line with oil prices, we will continue to make timely adjustments on a monthly basis."

The group is also offering a three-month special fuel rebate from August to October, which is expected to benefit half of its customers.

On future investments, Chiang said a focus would be on meeting electricity demand for the development of artificial intelligence.

In this regard, the company has, under its five-year plan that started in 2024, committed to investing HK$2.5 billion in the Northern Metropolis, with plans to build substations to supply power for 18 data centres in the area.

Eight of these facilities have completed construction and are ready for use.

Chiang added that the company is also pursuing investment projects in Southeast Asian countries such as Vietnam and Laos.



Edited by Tony Sabine