Asia Cement attributable profit surges

Asia Cement (China) said its profit attributable to owners for the year ended 31 December 2013 surged 108 per cent YoY to CNY823m (US$133.8m).

Its basic and diluted earnings per share were CNY52.9 cents.

The revenue was CNY7.33bn, an increase of 9.7 per cent from a year earlier.

Gross profit rose 44.1 per cent YoY to CNY1.62bn, a gross profit margin of 22 per cent, up from 17 per cent in 2012. The increase in gross profit was mainly attributable to the increase of production capacity and sales volume; the increase in average selling price of the company's products, and the decrease in coal cost compared with that of the previous year.