Anhui Conch Cement profits grow 17pc despite housing downturn

Anhui Conch Cement, China’s largest cement manufacturer, posted 10.98 billion yuan (HK$13.7 billion) in profits last year, 17 per cent more than in 2013, the company said in a statement. Earning per share were 2.07 yuan.

Companies that make building materials have come under intense pressure on the mainland as the economy slows and housing prices fall. Anhui Conch’s sales in central, southern and western China remained strong while sales in eastern China, where the bulk of building has taken place over the past two decades, fell by 1.35 per cent. Sales in eastern China still represented more than 30 per cent of total sales.