Tangshan Jidong Cement sees profit up 40.88% last year

Tangshan Jidong Cement sees profit up 40.88% last year
Published: 15 April 2011

Tangshan Jidong Cement Co Ltd, based in Tangshan, Hebei Province, announced that its net profit attributable to shareholders reached around CNY1.4bn in 2010, up 40.88% YoY. Operating revenue surged 58.29% YoY to CNY11.06bn. Earnings per share were CNY1.15, up 40.95% from a year earlier.

The company sold a total of 56.81Mt of cement and clinker in 2010, reflecting a YoY increase of 49%. However, Tangshan Jidong Cement estimated that it will suffer a net loss between CNY9m and CNY13.5m in the first quarter of this year, dragged down by declined subsidies in the quarter, sources reported.