Anhui Conch Cement 3Q net profit up 45%
Anhui Conch Cement Co, China’s largest cement maker by output, said Monday its third-quarter net profit rose 45% from a year earlier due to higher product prices.
The Hong Kong- and Shanghai-listed company said in a statement its net profit for the three months ended Sept. 30 was CNY1.36bn, up from CNY937.9m a year earlier.
Revenue rose 32% to CNY8.49bn from CNY6.43bn.
Demand for cement in China has been boosted by last year’s CNY4 trillion stimulus program, which included heavy spending on infrastructure projects, and the country’s booming property sector.
Published under Cement News
