Jidong Cement H1 revenue hiked 39.59% annually
Shenzhen-listed Tangshan Jidong Cement Co, Ltd reported CNY 2.232bn revenue for the first half of 2008, surging 39.59% YoY.
The revenue came mainly for the sale of 12.0284Mt of cement and cement clinker, up 28.54% from a year earlier.
Net profit reached CNY 154.34m, a year-on-year increase of 4.61%, though the company operated under the pressure caused by constant coal price increase, coal supply shortage, and a growth in transportation cost in the first half.
Basic earnings per share got to CNY 0.1558, compared to CNY 0.1532 in the comparable period of the previous year.
From January to July, the company enhanced its expansion in the provinces of Shanxi and Hunan, and prepared for the construction of production bases in the southwest Chinese province of Sichuan, which suffered a huge earthquake in mid May, and is expected to need a large amount of cement for reconstruction.
Published under Cement News
