Conch expects strong rise in 2013 profit

Anhui Conch, the leading cement producer in China by market value, said it expects a 50 per cent rise in net profit attributable to shareholders for 2013.

In 2012, the company posted a net profit of CNY6.31bn (US$1.043bn) with basic earnings per share of CNY1.19. 

According to a statement filed with the Shanghai Stock Exchange, the company said the improved performance in 2013 was due to steady growth in consumption and a reduction in new capacity coming onto the market. 

Over the first nine months of 2013, Anhui Conch reported a 14.76 per cent rise in operating revenue to CNY37.01bn while net profit rose 36.82 per cent YoY to CNY5.38bn.