Asia Cement (China)’s net profit up 74 per cent in Jan-Sep

Asia Cement (China)’s net profit up 74 per cent in Jan-Sep
Published: 20 October 2009

Asia Cement (China) Holdings, a mainland subsidiary of Taiwan-based Asia Cement Corp, said Friday that its unaudited net profit reached CNY477.5m (US$69.9m) in the first nine months of this year.

The figure reflects a surge of 74 per cent compared with the CNY275m earned in the same period of last year, said the company in filing with the Hong Kong Stock Exchange.

Earnings per share were CNY 0.31, according to the statement.

The company’s turnover during the same period was CNY3.06bn, up 39 per cent YoY. Asia Cement (China) expects that cement prices will rise on growing demand in the fourth quarter.

In 2008, the company earned CNY411m in net profit, 67 per cent more than in the 2007. The company’s turnover last year was CNY3.25bn, up 44 per cent from a year earlier.