Towngas China Co. Soars with Strong Profits

Towngas China Co (HK:1083) has released an update.

Towngas China Co. reported a robust 57.5% increase in core operating profit to HK$707 million, driven by a 6.3% rise in revenue and expansion in the renewable energy sector, which saw profits soar to HK$164 million. The city-gas business also experienced growth with a 6% increase in sales volume and refined management leading to improved margins. This financial uptick signifies the company’s strong performance in the first half of 2024, despite global economic challenges.

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