Tianjin Jinran Public Utilities (01265) said it expects to record a substantial decrease in profit and total comprehensive income for the year ended 31 December 2014 as compared to that for the previous financial year.
The decline is mainly due to the decrease in consumption of gas by certain major industrial customers of the Group as a result of their adoption of measures to reduce the same in response to the two upward price adjustments of natural gas in 2013 and 2014 as directed by the Tianjin Municipal Price Bureau despite the income and revenue generated from the Group's gas connection business has increased as compared to the previous year.
Its final results announcement is expected to be released on 31 March.
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