China Sinoma Intl estimates over 50% growth in H1 net profit

China Sinoma International Engineering<600970>, which is principally engaged in cement production, said that its net profit may have grown by over 50% in the first half of this year, sources reported.

In a statement filed with the Shanghai Stock Exchange, the firm said the estimated profit surge is mainly due to a rapid growth in its business revenue, an enhanced profit margin and effective cost control.

In the first half year of 2009, the company's net profit was RMB 317 million, and earnings per share were RMB 0.79.

China Sinoma International is scheduled to release its financial results for the first half of this year on Aug.13.

The Shanghai-listed firm's net profit for last year reached RMB 744 million, an amount 1.43 times the amount it realized in 2008. Its operating revenue hit RMB 18 billion, swelling 27.76% year on year.

From China Knowledge (2010-7-13)