China’s Anhui Conch Cement Company Ltd has released its results for the six months ended 30 June 2014.
- Revenue for the six months ended 30 June 2014 (prepared in accordance with the International Financial Reporting Standards) amounted to approximately RMB28.784 billion, representing an increase of approximately 22.03% over 1H13.
- Profit attributable to equity shareholders of the company stood at RMB5.81 million, representing an increase of approximately 89.99% over the corresponding period last year.
- Basic earnings per share were RMB1.10.
In 1H14 the company recorded an aggregate net sales volume of cement and clinker of 114 million t, representing a 9.85% y/y increase. The sales revenue increased by 20.51% compared to the same period last year. During the reporting period, the company made great efforts to expand market coverage and focused on the supply-and-demand conditions of each regional market, resulting in an increase in cement sales volumes in each region.
East China: the overall market remained stable with relatively weak growth in demand and production capacity. By enhancing resource allocation and adjusting product prices in a timely manner, the company recorded a 3.94% y/y increase in sales volumes and a 21.37% y/y increase in sales amount.
Central China: due to the temporary increase of production capacity, the competition in the cement market was relatively intense. In light of the market conditions, the company adjusted its marketing strategy and increased its efforts in exploring markets, resulting in a 1.97% y/y rise in sales volumes and a 7.08% y/y improvement in sales amount.
South China: due to the robust demand in the cement market of South China, the market price remained at a relatively high level. The company reported a 8.21% y/y increase in sales volumes and a 26.42% y/y improvement in sales amount.
West China: with the acquisitions and mergers made by the company and the release of production capacity of new projects, the sales volume and sales amount increased by 34.65% y/y and 36.34% y/y, respectively. The export sales volume and sales amount increased by 15.36% y/y and 12.45% y/y, respectively.
Access the full report here.
Adapted from press release by Rosalie Starling
Read the article online at: https://www.worldcement.com/asia-pacific-rim/28082014/anhui-conch-publishes-interim-results-for-1h14-366/