Anhui Conch - May 2019

Anhui Conch’s revenue increased by 62.5 per cent YoY to CNY30.5bn (US$4.4bn) in the opening quarter of 2019. Net profit over the same period advanced by 27.2 per cent from CNY4.77bn to CNY6.08bn. Earnings per share improved from CNY0.90 in 1Q18 to CNY1.14 in 1Q19.

Meanwhile, Qarshi Conch Cement, a subsidiary of Anhui Conch, has commenced work on its new US$150m plant in Karshi, Uzbekistan. The plant, which will have a cement production capacity of 1.2Mta, is due to become operational in December 2020. According to the company, Karshi was chosen due to its abundance of limestone and loess rocks.