Wannianqing Cement Predicts 2010 Profit To Double

Byyyp

Updated Wed, 15 Dec 2010 00:00:00 GMT

Jiangxi Wannianqing Cement predicts that it will record a 100-150 percent year-on-year increase in its net profit for 2010 to between 132 million yuan and 165 million yuan, reports China Securities Journal, citing a company filing.

Earnings per share (EPS) is expected to range from between 0.33 yuan and 0.42 yuan.

The company expects to generate a net profit of between 149 million yuan and 182 million yuan in the fourth quarter, an increase of between 229 percent and 302 percent year-on-year.

For the first three quarters, the company recorded a loss of 17.25 million yuan.

The company attributes the gains to an expansion of output, greater demand for cement and increased prices.