March 19, 2020 / 9:23 AM / in 14 days

BRIEF-Hong Kong And China Gas Says FY Profit Attributable HK$6,965.7 Mln

March 19 (Reuters) - Hong Kong and China Gas Co Ltd :

* TOWNGAS CHINA’S PROFIT AFTER TAXATION ATTRIBUTABLE FOR YEAR ROSE BY 19 PER CENT TO HK$1,456 MILLION

* FY PROFIT ATTRIBUTABLE HK$6,965.7 MILLION VERSUS HK$9,312.8 MILLION

* RECOMMEND A FINAL DIVIDEND OF HK23 CENTS PER SHARE

* PREDICTS STEADY GROWTH IN NUMBER OF CUSTOMERS IN HONG KONG DURING 2020

* PREFERENTIAL POLICIES WILL IMPACT RESULTS OF GROUP FOR YEAR 2020

* IN 2020, GROUP IS ADOPTING MEASURES TO BROADEN SOURCES OF REVENUE AND CUT EXPENDITURE AND COSTS

* POLICIES SUCH AS REDUCING FEES & DEFERRING FEE PAYMENT, WILL INEVITABLY, IMPACT RESULTS OF GROUP FOR YEAR 2020

* EXPECTED THAT WHEN EPIDEMIC IS OVER, GROUP’S BUSINESSES WILL RETURN TO NORMAL WITHIN RELATIVELY SHORT PERIOD OF TIME

* FY REVENUE HK$40,628.1 MILLION VERSUS HK$39,073.0 MILLION Source text for Eikon: Further company coverage:

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