Thermal power companies energized by profits

The overwhelming majority of thermal power companies listed in Shanghai and Shenzhen reported gains in the first half of 2013, aided by reduced costs, the Securities Daily reported on Monday.

The report said that 53 out of 60 thermal power companies listed in Shanghai and Shenzhen, which released financial reports for the first half of 2013, said they made gains. Another seven reported losses.

Of the 53 companies, 10 reported a 100 percent year-on-year increase in net profit, and 17 reported 200 percent year-on-year increase.

Analysts said falling coal prices contributed to reduced costs.

Growing net profits for thermal power companies in the second half of this year are also expected, they said.