DB expects HK & China Gas 1H01 NP to rise 5% on-year to HK$1.675b

Deutsche Bank expects HK & China Gas (0003) 1H01 net profit to rise 5% on-year to HK$1.675 billion, thanks to 3% growth in gas sales volume. HKCG has outperformed since buyback offer (completed late July) and DB believes out performance will continue in near term. DB feels volatile general market and possible group-wide restructuring at Henderson group should support HKCG

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