China Sinoma International Engineering<600970>, which is principally engaged in cement production and a listed subsidiary of China National Materials Group Corp, announced that it expected to see net profit for 2010 surge more than 80% year on year, sources reported.
The company attributed the profit surge to the increased operating revenue from core business.
China Sinoma said in a statement that its operating revenue was RMB 18.01 billion in 2009, with earnings per share of RMB 1.86. However, no figures for 2010 were given in the statement.
Separately, last December, the company signed a contract worth US$135 million to build a cement factory in Saudi Arabia. It inked such kind of contract with Saudi Arabian Hail Cement Co in May 2010.
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