Gansu Qilianshan's cement output for H1 hits 3.87 mln tons

Gansu Qilianshan Cement Group Co Ltd<600720> produced 3.87 million tons of cement in the first half of this year, an amount 26.79% more than it produced in the corresponding period of 2009.

Cement sales surged 24.36% year on year to 3.9 million tons.

The Shanghai-listed firm reaped RMB 1.41 billion in the first half, reflecting a year-on-year increase of 19.5%, and its net profit surged 53.77% year on year to RMB 246 million. Earnings per share were RMB 0.517.

Gansu Qilianshan Cement is a major subsidiary of state-owned China National Materials Group Corp or Sinoma.

Sinoma's another arm China National Materials Co Ltd<1893> purchased a total of 2.02 million shares of Gansu Qilianshan Cement during the period from Jun. 30 to Jul. 30, bringing its shareholdings to 12.81% with shares totaling 60.81 million.

From China Cement (2010-8-13)