Jiangxi Wannianqing Cement Co Ltd reported a 230 per cent YoY rise in net profit year due to an increase in sales volumes and higher selling prices.

China Business Newswire reported that the company's net profit hit CNY506m (US$80m) last year, with basic earning per share reaching CNY1.28.

The Shenzhen-listed company plans to distribute a cash dividend of CNY2.6 (before tax) for every 10 shares held.

Jiangxi Wannianqing Cement produced 14.91Mt of cement and 12.36Mt of clinker in 2011, up 12.64% and 10.12% respectively from a year earlier.