June 5, 2017 / 12:51 AM / 2 months ago

China Gas expects yearly profit to jump 70 pct

HONG KONG, June 5 (Reuters) - Gas services operator China Gas Holdings Ltd said it expects its net profit for the year to end-March to rise more than 70 percent, thanks to considerable growth of its principal business in the second half.

A reduction of one-off items during the year, including exchange losses, also aided its performance, the gas pipeline and terminals operator said in a filing to the Hong Kong bourse late on Sunday. It gave no further details.

China Gas, which posted a HK$2.27 billion ($291 million)profit last year, is due to release its yearly results on June 21.

The company's shares have risen 17.7 percent so far in 2017, in line with a 17.8 percent rise in the benchmark Hang Seng Index. ($1 = 7.7896 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Richard Pullin)

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