China’s EB Int’l profit surges 29%

BY ALICE ZHAO

HONG KONG – China Everbright International (HK Stock Code 257), the investment holding company focuses on energy, sees a 30 percent increase in profit as it released its annual financial statement yesterday.

Net income increased to HK$0.8 billion, or HK$21.86 cents per share, from HK$0.61 billion, or HK$16.92 cents per share, the China-based company said in a statement to the Hong Kong Stock Exchange where it was listed.

The share price went up to HK$3.79 after the statement was announced, but did not surpass the monthly high of HK$3.91 on March, 5th.

The company’s turnover for 2011 is HK$3.6 billion, an increase of 25% from a year before. The four percentages less than its profit increase indicate the company has successfully cut its expenses last year.

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