Conch ranked most competitive company in China

Conch ranked most competitive company in China
30 September 2004

Shanghai-listed Conch Cement has been ranked first in competitiveness among listed companies in China in the first half of this year, according to a result of monitoring on competitiveness of China’s listed companies conducted by the China Academy of Social Sciences.

The company reported 47.7 per cent in gross profit ratio in the first half, higher than the 36.7 per cent for the same period last year and 41.6 per cent for the whole year of 2003.

According to a report issued by the company, its net profits reached 794 million yuan (US$96m) in the first half, soaring 255 per cent over the same period last year, and earnings per share hit 0.63 yuan, higher than that of the last year. Main operating turnover of the company topped 3.79 billion yuan in the period, up 79 per cent.

The Conch Group turned out 21.337Mt of cement clinker in the January-September period, rising 46 per cent over the same period last year, 20.87 million tons of cement, up 49 per cent.

Total output of clinker is expected to reach 56Mt this year, hopefully to become the No. six biggest cement producer in the world.

Its sales of shaped plastic products reached 304,000 tons in the first nine months, up 48 per cent year on year, likely to reach 400,000 tons in the whole year.

Sales of plastic woven bag were 130 million pieces in January-September, up 66 per cent, and the sales in the whole year are estimated to top 165Mt.

The total sales of the Conch Group is estimated to reach 13.3 billion yuan in the first nine months, up 64 per cent year on year; profits, 1.88 billion yuan, up 130 per cent; and taxes, 1.21 billion yuan.

Published under Cement News