Tianshan Cement 2011 Net Profit Up 123.6%


Updated Thu, 01 Mar 2012 00:00:00 GMT

Xinjiang Tianshan Cement (000877), a producer of cement and concrete, posted a 123.62 percent year-on-year rise in 2011 net profit to 1.13 billion yuan on a 44 percent increase in sales revenue to 8.2 billion yuan, reports yicai.com, citing a company filing. Earnings per share hit 2.91 yuan.

The company announced plans to convert eight shares and distribute cash dividends of seven yuan (including tax) for every 10 shares held.

Tianshan Cement added clinker production capacity of 4.03 million tons, cement production capacity of 6.4 million tons, and waste heat power generation capacity of 33 MW in 2011.

The company plans to produce 17.56 million tons of clinker, sell 21.6 million tons of cement, and generate 230.51 million kilowatts of waste heat power in 2012, with a revenue target of nine billion yuan.

Shares of Tianshan Cement rose 0.2 percent to trade at 25.59 yuan per share at 14:42 today.