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Anhui Conch Cement expects 2011 profit to surge 80%

Jan. 12, 2012 (China Knowledge) - Anhui Conch Cement Co Ltd<600585><0914>, the biggest cement producer in Asia by output, said yesterday that it expected its net profit to soar more than 80% last year.

The cement producer said in a statement filed with the Shanghai Stock Exchange that the robust growth in net profit was due to increases in both sales price and volume.

The company did not disclose any further specific figures on its 2011 performance.

In 2010, the company's net profit was RMB 6.17 billion based on Chinese accounting standards.

In the first nine months of last year, the cement producer earned RMB 9.06 billion in net profit, 186.6% more than that in the same period of 2010, according to an earlier report from China Knowledge.

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