Anhui Conch Cement Co, China’s largest cement maker by output, said Monday its net profit rose 76% last year due to higher product prices and volume.
The company said its net profit for the 12 months ended Dec. 31 was CNY6.16bn (US$938m), up from CNY3.51bn a year earlier.
Revenue rose 38% to CNY34.51bn from CNY25.00bn. The company recommended a final dividend of CNY0.3, compared with CNY0.35 a year earlier.
Domestic demand for cement grew last year because of China’s CNY4 trillion stimulus program, which included heavy spending on infrastructure projects, as well as the country’s resilient property sector