Shuangma Cement 28.23% drop in net profit, China

Shuangma Cement 28.23% drop in net profit, China
Published: 16 April 2012

Shuangma Cement’s net profit fell 28.23% YoY to CNY331m (US$52.4m) last year, due to higher fuel and raw material costs, China Knowledge Press reported.

The company, controlled by Lafarge China Offshore Holding, saw operating profit rise 17.44% year on year to CNY2.03bn last year. . Basic earnings per share were CNY0.26 in 2011, down 33.33% year on year.

Sichuan Shuangma Cement produced 6.58Mt of cement last year, 21.08% more than in the previous year as the No. 3 line of Lafarge Dujiangyan Cement Co started operation in the second half of 2010.

Sales rose 19.4% YoY to nearly 6.58Mt. This year the company aims to increase its cement sales to 7Mt.