Western Cement Reports 40.5% Surge in Annual Profit, Declares Final Dividend

Stock News
Mar 24

WESTCHINACEMENT (02233) announced its annual results for the fiscal year, reporting revenue of RMB 96.21 billion, an increase of 15.3% year-on-year. Profit attributable to shareholders reached RMB 880 million, rising by 40.5% compared to the previous year. Basic earnings per share stood at 16.1 cents, and a final dividend of RMB 0.048 per share was declared.

During the reporting period, sales volume of cement and clinker increased by 9.0% to 21.8 million tons (2024: 20.0 million tons). Sales in the Chinese market declined by 18.8% to 13.0 million tons (2024: 16.0 million tons), while overseas sales surged by 120% to 8.8 million tons (2024: 4.0 million tons).

The average selling price for cement and clinker in China decreased by 6.3% to RMB 251 per ton (2024: RMB 268 per ton). However, due to lower production costs, the group maintained a stable gross profit per ton of RMB 39 (2024: RMB 41). The significant growth in overseas sales helped sustain the average selling price at a more sustainable level of RMB 470 per ton (2024: RMB 568 per ton), driving the average gross profit per ton to RMB 171 (2024: RMB 272).

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