Anhui Conch net profit up 87.8%, China

Anhui Conch announced an 87.8% rise in net profit YoY to CNY11.59bn (US$1.8bn) on the back of higher prices and sales. This figure was in line with the company’s guidance released in January when it said it expected net profit to rise more than 80 per cent. Revenue in 2011 was up 41% to CNY48.65bn from CNY34.51bn.

During the year, the company sold 158Mt of cement and clinker in 2011, up 15.22 per cent YoY. It also added 33.6Mt of clinker capacity in 2011, taking total volumes to 164Mt by year-end. Cement capacity, meanwhile, was ramped up by 31Mt to 180Mt in 2011.