Anhui Conch Cement Posts 88% Surge In 2011 Net Profit

Anhui Conch Cement Co AHCHY reported an 88% jump in its 2011 net profit. Anhui Conch Cement's 2011 net profit surged to CNY11.59 billion, versus a restated CNY6.16 billion, in the year-ago period. However, analysts were expecting a net profit of CNY11.99 billion. In January, Anhui Conch Cement projected 2011 net profit to surge more than 80%. Anhui Conch Cement's revenue climbed 41% to CNY48.65 billion versus CNY34.51 billion. Anhui Conch Cement proposed a final dividend of CNY0.35 a share, up from CNY0.30 a share. Anhui Conch Cement shares closed at $14.29 yesterday.