Anhui Conch reports positive profit expectations

The Board of Anhui Conch has announced it expects to record a YoY increase of CNY5373-6717m (US$788.3-985.4m) in its net profit attributable to equity holders for the six months ended 30 June 2018, prepared in line with PRC accounting standards).

In 1H17 the company’s unaudited net profit attributable to equity holders reached CNY6717m while the net profit after extraordinary items attributable to equity shareholders reached CNY5123m.

The company attributes the rise mainly to the significant price increases of the company’s products as well as a YoY increase in revenues for the first half of 2018 when compared with 1H17.