China’s Tangshan Jidong Cement sees H1 net profit up

China’s Tangshan Jidong Cement sees H1 net profit up
Published: 09 June 2006

Tangshan Jidong Cement Co Ltd said that it expects net profit for the first half to rise over 50 pe cent  YoY, on higher sales and cost cutting. The company’s net profit in the first half of 2005 stood at CNY46.76m. Net profit last year fell 10.68 per cent to CNY127.73m.

Tangshan Jidong’s controlling shareholder is in talks to sell an unspecified stake to Heidelberg Cement AG of Germany, the world’s fourth-largest cement producer.