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China Resources Cement's profit over double in 2011

Mar. 6, 2012 (China Knowledge) - China Resources Cement Holdings Ltd<1313>, the largest cement producer in South China, earned HK$4.18 billion in net profit attributable to shareholders last year, reflecting a year-on-year jump of 105%.

In a statement filed with the Hong Kong Stock Exchange, the company said its earnings per share were 64.1 HK cents and a final dividend of HK$0.06 per share was declared.

In 2011, the firm's sales volume of cement, clinker and concrete surged by 49.4%, 104.3% and 28.4%, respectively. Average sales price of cement increased 10% to RMB 369.5 per ton, clinker increased 11.5% to HK$306.3 per ton and concrete increased 15.3% to RMB 357.4 per cubic meter last year.

Chief Financial Officer Robert Lau said the Chinese cement supplier targets HK$6.2 billion in capital expenditure, excluding funds for acquisitions, for 2012.  
China Resources Cement aims to add cement capacities of 20 million tons, bringing its annual cement output capacity to 89 million tons by the end of 2014, Lau added.

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