Asia Cement:Net profit in first half of 2014 surge by 50%

Byrebecca3360

Updated Thu, 07 Aug 2014 17:14:03 GMT

According to a top financial information supplier in China Finet, during 1H14, net profit of Asia Cement Holdings Corporation (hereinafter referred to as “Asia Cement”) reached CNY 383mln, a YoY increase of 50%; earnings per share was 24.6 cent, and dividend was not payable.

During 1H14, revenue of Asia Cement grew by 23% to CNY3.9bln, which benefitted from a rise in both the sales and average sales price of its products; gross profit of the company rose to CNY930mln from CNY583mln in the same period last year, and the gross profit of the company equaled to 24% of its income. It’s reported that the improvement in gross margin was mainly attributed to the rise in sales and average sales price of cement product as well as a fall in coal cost compared with the same period last year.