Asia Cement nine month profit surges, China

Asia Cement nine month profit surges, China
Published: 25 October 2013

Tagged Under: Asia Cement China 

Asia Cement said net profit attributable to shareholders for the first nine months of the year rose by 166 per cent YoY to CNY391m (US$64.25m).

Revenue rose by 3.9 per cent from a year earlier to CNY4.92bn. Gross profit increased by 29 per cent to CNY901m with margins of 18 per cent, up by three percentage points on a year earlier.

For full-year 2013 the group anticipates a five per cent YoY rise in sales to 26Mt compared to 24.8Mt in 2012. It expects to continue benefitting from a decline in coal prices and a reduction in production costs.