Chaodong expects eight-fold rise in 2010 profit, China

Chaodong expects eight-fold rise in 2010 profit, China
Published: 27 January 2011

Anhui Chaodong Cement predicts its net profit for fiscal year 2010 jumped eight-fold, according to a company filing. The company recorded net earnings of CNY5.26m in fiscal 2009. The firm attributed the estimated growth to recovering cement sales price and volume, rapidly growing fixed assets investment in the cement industry, and government policies on saving energy and reducing emissions.