Anhui Conch Cement Co Ltd yesterday announced that its net profit for 2009 rose 34.48 per cent to CNY3.51bn (US$ 414m) from CNY2.61bn in 2008.
Earnings per share were CNY1.98 in 2009, up 27.74 per cent from the previous year, according to the company’s annual report. The company declared a dividend of CNY0.35 per share.
Anhui Conch Cement attributed the increase in net profit to the Chinese government’s CNY4trn stimulus package which has resulted in significant increases in investment in the infrastructure sector and property development.
In 2009 the company’s turnover was CNY25bn, up 3.18 per cent YoY.
By the end of the last year Anhui Conch’s clinker capacity had increased to 102.6Mt and it cement capacity reached 105.5Mt.