Tianjin Jinran Public Utilities (01265) said it expects to record a substantial decrease in profit and total comprehensive income for the six months ended 30 June 2014 as compared to that for the same period in 2013.
Such decline is mainly due to the gas connection income has decreased due to the relatively sluggish property market in Tianjin, resulting in a decrease in demand of piped gas connection services from the Group; and the decrease in demand for piped gas from a major customer of the Group due to the upward price adjustment of natural gas effective from July 2013 as directed by the Tianjin municipal price bureau.
Its interim results announcement is expected to be published on 29 August.
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