Anhui Conch Cement Co, China’s largest cement maker by output, said Monday its first-half net profit rose 41 per cent due to higher product prices. The Hong Kong- and Shanghai-listed company said its net profit for the six months ended June 30 was CNY1.80bn, up from CNY1.27bn a year earlier. Revenue rose 23 per cent to CNY13.87bn from CNY11.24bn.
China’s demand for cement got a boost from the country’s CNY4trn stimulus programm last year, which included heavy spending on infrastructure projects, as well as the country’s resilient property sector. The company didn’t recommend a first-half dividend, same as a year earlier.