Anhui Conch Cement's 2024 Profit Slides 25%; Hong Kong Shares Fall 6%

MT Newswires Live03-25

Anhui Conch Cement's (SHA:600585, HKG:0914) attributable profit fell 25% to 8.05 billion yuan in 2024 from 10.7 billion yuan in 2023, according to a Monday filing with the Hong Kong bourse.

Earnings per share at the cement manufacturer decreased to 1.53 yuan from 2.02 yuan in the previous year. Analysts at Visible Alpha estimated EPS at 1.62 yuan.

Revenue declined 36% to 91 billion yuan from 141.2 billion yuan a year earlier. Visible Alpha analysts forecast revenue at 115.9 billion yuan.

The company declared a final dividend of 0.71 yuan per share, payable June 30. Conch Cement has yet to announce the record date.

Meanwhile, capital expenditure is seen to amount to about 12 billion yuan in 2025.

Annual net sales for cement and clinker, excluding trading volume, is seen to reach 268 million tonnes, while annual production capacity for aggregates is seen to reach 19.6 million tonnes and commodity concrete at 27.8 million cubic meters during the year.

Shares fell 6% in Hong Kong and 3% in Shanghai during Tuesday's trading.

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