Yatai Group H1 net profit up 76%


Updated Fri, 07 Aug 2009 00:00:00 GMT

Chinese cement firm Jilin Yatai (Group) Co Ltd<600881> posted RMB 342.28 million in net profit for the first half this year, up 76.17% year on year, according to the company's statement filed with the Shanghai Stock Exchange.

The firm recorded RMB 3.38 billion in total revenue and RMB 375 million in operating profit for the reporting period, representing a year-on-year growth of 36.43% and 119.57%, respectively.

Earnings per share were RMB 0.18 during the period, up 20% from a year earlier.

The sale of a 26% stake in Jilin Yatai Cement Investment Co and the investment income from two securities firms are the main contributors to the profit surge, said the Shanghai-listed company.

Jilin Yatai also expanded its cement production capacity by putting into operation of two clinker production lines with a daily capacity of 5,000 tons each during the period. Meanwhile, a new cement grinding mill is also set up in April.

In the second half of this year, Jilin Yatai will continue to expand its production capacity to further enhance its profitability, said the company.