China Knowledge reported that CLP Holdings Ltd, Hong Kong biggest power producer net profit for 2009 fell 21%YoY to HKD 8.2 billion in large part because the Hong Kong government reduced its allowable profit margin to 9.99% from between 13.5% and 15%.

According to the firm's annual report the company consolidated revenues were HKD 50.67 billion last year down by 6.7%YoY.

Electricity business in Hong Kong generated earnings of HKD 5.96 billion and revenue of HKD 28.3 billion which were down 21.0% and 6.3% year on year, respectively. Earnings from business outside Hong Kong and other earnings were HKD 3.01 billion in total up by 17.3%YoY.

The firm electricity sales in Hong Kong were 30,570 GWh in 2009 up by 1.7% from the previous year. Total electricity sales rose 2.0% to 34,301 GWh.

(Sourced from China Knowledge)