Asia Cement
The principal businesses of Asia Cement (China) are manufacturing and selling cement products and concrete. The company also operates in investment holdings, selling blast-furnace slag powder and related products, and transportation services
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Asia Cement 2008 profit up 44 percent
Asia Cement’s revenues increased by 44 percent to RMB3,248.2m in 2008 due to higher selling prices and an overall increase in total production with the full operation of rotary kiln No. 3 at Jiangxi Yadong Plant, which started in July 2007. Profit was also up 44 percent to RMB908.0m. Basic earnings per share rose 15 percent to RMB0.30.
The Chinese government has mandated the elimination of 284 million tonnes of outdated
cement production capacity by 2010. It is expected that industry consolidation will accelerate, and
market shares and product sales will be further concentrated to leading companies.
China's RMB4bn stimulus plan is being being spent on thousadnds of infrastructure and construction projects accross the country over the next two years. The location of Asia Cement's production plants, particularly in post-quake Sichuan, make it well-positioned to benefit.
The Board proposed a final dividend of RMB0.10 per share, representing a payout ratio of 33 percent. The dividend will be payable on 25 June to members on the register which closes on the 10th June 2009.
Other Asia Cement news
- Asia Cement expands production
2009-03-17
