[ET Net News Agency, 5 August 2020] Power Assets Holdings Limited (00006) said the
group's profit attributable to equity shareholders of the company for the six months ended
30 June 2020 amounted to HK$2,262 million, a year-on-year decrease of 40.33%.
The decline is attributable to (i) the corporate tax rate in the UK remained at 19%
instead of reducing to 17% as previously enacted under UK law, which necessitated a
one-off non-cash adjustment to the deferred tax balances of operating companies there and
negatively impacted the group's share of the results of joint ventures and associates of
approximately HK$780 million; (ii) a lower contribution from mainland China portfolio
following the expiry of operating rights in two coal-fired power plants in 2019; (iii) the
adverse impact of the COVID-19 pandemic.
The operating profit was HK$701 million, a year-on-year decrease of 32.14%.
The board of directors has declared an interim dividend of HK$0.77 per share. (RC)
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00006 POWER ASSETS
Nominal 
44.500 +0.450 (+1.022%) Result Announcements
05/08/2020 16:48
Power Assets (00006) interim net down 40% to HK$2,262m
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