Coal-cost blow

CHINA Resources Power Holdings, the third-biggest Hong Kong-listed Chinese electricity producer by market value, said that first-half profit fell 29 percent because of record coal costs.

Net income dropped to HK$1.006 billion (US$129 million), or 23.69 Hong Kong cents a share, from HK$1.4 billion, or 35.10 cents, a year ago, the company said in a statement to the city's stock exchange yesterday. Sales gained 83 percent to HK$12.1 billion.