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Anhui Conch Cement's 2011 net profit up 87.8%

Mar. 27, 2012 (China Knowledge) - Anhui Conch Cement Co Ltd<600585><0914>, the biggest cement producer in Asia by output, announced yesterday that its net profit surged 87.8% year on year to RMB 11.59 billion last year.

Basic earnings per share were RMB 2.19 last year, and the cement producer proposed a final dividend of RMB 0.35 per share.

Operating revenue jumped 40.99% year on year to RMB 48.65 billion in 2011.

Anhui Conch Cement sold 158 million metric tons of cement and clinker in 2011, 15.22% more than in the previous year. The overall gross profit margin at the cement and clinker business rose 7.69 percentage points to 40.11% in the period, boosted by increases in sales prices.

The company added 33.60 million metric tons of clinker capacity last year, taking its total clinker capacity to 164 million metric tons at the end of 2011. The firm saw its cement capacity increase by 31 million metric tons to 180 million metric tons at the end of last year.

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