China Sinoma International Engineering, which is principally engaged in cement production and a listed subsidiary of China National Materials Group Corp, announced that it expected to see net profit for 2010 surge more than 80% YoY, sources reported.
The company attributed the profit surge to the increased operating revenue from core business. China Sinoma said in a statement that its operating revenue was CNY18.01bn (US$2.7bn) in 2009, with earnings per share of CNY1.86. However, no figures for 2010 were given in the statement.
Separately, last December, the company signed a contract worth US$135m to build a cement factory in Saudi Arabia. It inked such kind of contract with Saudi Arabian Hail Cement Co in May 2010.