China’s Anhui Conch Cement Q3 net profit up 13.3%

China’s Anhui Conch Cement Q3 net profit up 13.3%
Published: 22 October 2008

Anhui Conch Cement Co Ltd said third quarter net profit under Chinese accounting standards rose 13.3 per cent YoY to CNY704.27m on higher output and prices.

In a financial report filed with the Shanghai Stock Exchange, the company said operating revenue in the third quarter rose 40.31 per cent to CNY6.478bn. Net profit in the first nine months rose 34.27 per cent YoY to CNY2.018bn, the company said. Operating revenue in the nine months rose 28.55 per cent YoY to CNY16.675bn. Investment income for the third quarter rose 311.11 per cent YoY to CNY5.17m.

In the nine months, income rose 898.51 per cent YoY to CNY24.10m. The company obtained government subsidies of CNY136.31m in the first nine months. Earnings per share (EPS) in the third quarter stood at CNY0.40, unchanged from a year earlier, with the EPS for the first three quarters at CNY1.22, against CNY1.04 previously.