Anhui Conch Cement (600585, 0914.HK) anticipates a 150 percent year-on-year rise in net profits attributable to shareholders in the first quarter of 2011, reports yicai.com, citing a company filing. The company benefited from a steady uptick in demand and a rise in selling prices.
Guotai Junan Hong Kong said that the figure is in line with previous expectations as the brokerage predicted that gross profit margins will exceed 110 yuan per ton in the first quarter, up more than 100 percent year-on-year.
The affordable housing policies and limitation on capacity would drive the industry’s profitability and valuation, said by the brokerage.
Guotai Junan Hong Kong set the company’s 2011 gross profit margin estimate at 125 yuan per ton.
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