Jidong Cement earnings rise almost 50%, China
Tangshan Jidong Cement posted a 40.88 per cent YoY rise in 2010 net profit to CNY1.4bn (US$214m), according to a company filing.
Earnings per share increased 40.95 percent to CNY1.15.
Sales revenue rose 58.29 per cent YoY to CNY11.06bn.
The company plans to distribute cash dividends of CNY0.5 (including tax) for every 10 shares held.
The cement producer predicts that it will incur a loss of between CNY9m and CNY13.5m in the first quarter.
Jidong plans to issue CNY2.5bn worth of corporate bonds with a term of less than 10 years.
Published under Cement News
