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Anhui Conch Cement's Q1 net profit down 43.64%

Apr. 20, 2012 (China Knowledge) - Anhui Conch Cement Co Ltd<600585><0914>, the biggest cement producer in Asia by output, said yesterday that its net profit dropped 43.64% year on year to RMB 1.25 billion in the first quarter of this year, due to falling cement prices and rising production costs.

The cement company realized RMB 8.86 billion in operating revenue in the first three months, 4.9% less than in the same period of 2011.

The company's cement sales rose 10.3% year on year to 33 million metric tons in the first three months, but its average sales price fell 13.8% year on year or 7% quarter on quarter to RMB 268 per metric ton.

Anhui Conch Cement earlier reported a net profit of RMB 11.59 billion for last year, reflecting growth of 87.8% year on year. Operating revenue jumped 40.99% year on year to RMB 48.65 billion last year.

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