CRP reports profit jump in 2003

China Resources Power Holdings (CRP) reported a net profit of US$589.5 million for 2003, a jump from its US$28.1 million net profits in 2002. CRP officials said the profit increase was a result of a 14% rise in power generation output, which was raised to 25.25 million megawatt-hours. CRP also recorded an installed capacity of 1,545 MW, an increase of 50% year-on-year. CRP is a unit of State Council (China's cabinet) investment arm China Resources (Holdings).