Guangdong Tapai Group Co net profit jumps on higher prices

Guangdong Tapai Group Co Ltd saw net profit reach CNY159m (US$25.5m) in the first three months of the year, rising 224 per cent YoY, the south China-based cement producer said on Monday.

Operating revenue rose 12 per cent YoY to CNY880m. The company attributes the profit jump to a 23.22 per cent increase in the average selling prices over the first quarter of 2014.