Conch expects strong rise in 2013 profit

Conch expects strong rise in 2013 profit
15 January 2014

Anhui Conch, the leading cement producer in China by market value, said it expects a 50 per cent rise in net profit attributable to shareholders for 2013.

In 2012, the company posted a net profit of CNY6.31bn (US$1.043bn) with basic earnings per share of CNY1.19. 

According to a statement filed with the Shanghai Stock Exchange, the company said the improved performance in 2013 was due to steady growth in consumption and a reduction in new capacity coming onto the market. 

Over the first nine months of 2013, Anhui Conch reported a 14.76 per cent rise in operating revenue to CNY37.01bn while net profit rose 36.82 per cent YoY to CNY5.38bn.

Published under Cement News