Asia Cement net profit surges

Asia Cement net profit surges
Published: 28 April 2011

Asia Cement announced that net profit surged 274% YoY to CNY253m (US$40m) revenue rose 74% to CNY1.65bn.

 "The strong revenue growth was attributable to the production commencement of its new plants at Sichuan, Jiangxi, Hubei and Wuhan, as well as a significant increase in the average selling price of its products," says South China Research.

The house adds, looking ahead, the group will speed up the construction of its new production capacities in Jiangxi as well as actively seek acquisition targets to drive growth; the moves are expected to support its shares ahead.