China Knowledge reported that China Resources Cement Holdings Ltd the largest cement producer in South China earned HKD 4.18 billion in net profit attributable to shareholders last year reflecting a YoY jump of 105%.
In a statement filed with the Hong Kong Stock Exchange, the company said its earnings per share were 64.1 HK cents and a final dividend of HKD 0.06 per share was declared.
In 2011, the firm sales volume of cement, clinker and concrete surged by 49.4%, 104.3% and 28.4% respectively. Average sales price of cement increased 10% to CNY 369.5 per ton clinker increased 11.5% to HKD 306.3 per ton and concrete increased 15.3% to CNY 357.4 per cubic meter last year.
Chief Financial Officer Robert Lau said the Chinese cement supplier targets HKD 6.2 billion in capital expenditure, excluding funds for acquisitions for 2012.
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