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.
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