Jiangxi Wannianqing Cement’s profit jumps 131.91% in 2010

Jiangxi Wannianqing Cement’s profit jumps 131.91% in 2010
Published: 21 March 2011

Jiangxi Wannianqing Cement Co announced that its net profit skyrocketed 131.91% YoY last year, sources reported.

The Shenzhen-listed company said in a statement that it realised CNY3.85bn in revenue last year, surging 34.26% year on year. Earnings per share were 38.7 cents.

The company produced 11.22Mt and 13.03Mt of cement, reflecting a YoY increase of 21.94% and 13.36%, and it sold 12.98Mt of cement in 2010, increasing 13.26% YoY.

Separately, the company plans to issue 65 million shares to its existing shareholders, and the production capacity of cement is expected to reach 12.04Mt from 9.93Mt.