Qilianshan Cement 1H earnings up 0.5%, China

Qilianshan Cement 1H earnings up 0.5%, China
Published: 28 July 2011

Gansu Qilianshan Cement Group posted a 0.5 per cent YoY increase in net profits during the first half of 2011 to CNY247m (US$38m), according to a company filing.

Sale revenues grew 19.39 per cent to CNY1.69bn. Total profits hit CNY341m, an increase of 12.6 per cent while earnings per share hit CNY0.52.

The firm produced a total of 4.65Mt of cement, an increase of 27.4 per cent. It sold 4.99Mt, up 27.84 per cent.

Qilianshan Cement put two facilities in Zhang County and another in Qinghai into operation in March and May this year, respectively. One project in Wen County will be operational in October.