Great expectations for Anhui Conch Cement
Anhui Conch Cement Ltd, one of the world’s largest cement producers by output, has announced it is expecting net profit attributable to shareholders to increase over 50% in 2013. The increase is due to growth in market demand and a slowdown in new capacity coming online in the Chinese cement industry. In its report on the first nine months of 2013, the company reported operation revenue of RMB37.01 billion, an increase of almost 15% y/y. In the same period, net profit rose 36.82% to RMB5.38 billion.
Surge in demand in Macau
The construction of new resorts in Macau is likely to bring cement demand to a new high over the next two years, according to reports. The Macau Ready-Mix Concrete Association is expecting annual production to exceed 2 million m3 of concrete in both 2014 and 2015, an increase of more than 22% from 2013 figures. Annual consumption of 2 million m3 was reached during the first wave of construction on Cotai in 2006 and 2007.
China’s action on climate change applauded by UN official
In an interview with Bloomberg, Christiana Figueres, executive secretary of the UN Framework Convention on Climate Change, said that China is ‘doing it right’ when it comes to taking action on global warming. Though the country has received a great deal of press attention for its poor air quality, Figueres noted that China’s energy efficiency standards are among the toughest in the world, adding that the country recognised such action was in its national interest.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/asia-pacific-rim/16012014/newsbytes_from_china_cement_industry_607/