Huaneng Power International, China's largest listed power producer, announced in Hong Kong Thursday that it gained one third increase in its annual revenue in 2005 while its profit decreased in the same year due to higher coal prices.

According to the financial report of the company, its operating revenue reached 40.19 billion yuan (4.98 billion U.S. dollars) in 2005, a 33.3 percent increase over 2004.

Meanwhile, its profit attributable to the equity holders in 2005 was 4.87 billion yuan, a 8.49 decrease over 2004, because the coal price increased to a quite high level compared with the previous year.

The company said although the profit was lower than that of the previous year, the cash flow was healthy and financial condition was good.

The board of directors proposed a cash dividend of 0.25 yuan per share to all shareholders in 2005.

It said in 2006, the first year of the eleventh five-year plan, the economic growth and improvement of the living standard will continue to stimulate power demand, which will definitely provide opportunities for the company to increase its production and profit.

Source: Xinhua