Shanghai Allied Cement
The Group is primarily engaged in the manufacture and sales of cement and clinker, and slag powders with its principal market in mainland China.
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SAC cement in profit after boosting efficiency, looking for acquisitions,HKG:1060
SAC’s 2008 turnover rose 31 percent to HK$552.8m with a massive jump in margins bringing the company into a HK$10.3m net profit compared to 2007's HK$13.7m loss.
The company says improvements in operational efficiency in its production process resulted in the reduction of coal, gypsum and power consumption costs.
The group’s core business Shanghai Allied Cement recorded a 26 percent increase in turnover to HK$322.8m and profits up 75 percent to HK$23.2m. Shandong Shanghai Allied Cement turned around its 2007 HK$10m loss into HK$1m profit. .Turnover rose 61 percent from of HK$74m.
Although its intended acquisition of Redstone has been aborted, the company says it still intends to invest and acquire more cement businesses with good potential for growth.
Other Shanghai Allied Cement news
- Shanghai Allied Cement proposes name change to ChinaVision Media Group, makes 3G games acquisition
2009-07-17 - Shanghai Allied Cement moves into television production with HK$36m purchase
2009-07-06 - Shanghai Allied Cement disposes of cement production group for HK$200
2009-05-28
