Jidong Cement reaps hefty profit in 2013

BEIJING - Tangshan Jidong Cement Co Ltd, the largest cement supplier in North China, estimated net profits in 2013 would rise between 70 percent and 100 percent year on year to reach over 306 million yuan ($50 million).

Earnings per share for Jidong stood at the range of 0.227 yuan and 0.267 yuan, up around 0.1 yuan from a year earlier, the company said in a business report filed on Saturday to the Shenzhen Stock Exchange.

The company attributed its profit growth last year to lower materials cost and higher sales.