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News Anhui Conch Cement raises turnover amid decline in cement sales in 2023

Anhui Conch Cement raises turnover amid decline in cement sales in 2023

Written by Global Cement staff 20 March 2024
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China: Anhui Conch Cement's turnover was US$19.6bn in 2023, up by 6.8% year-on-year from 2022 levels. Sales of 42.5 grade cement contributed US$8.46bn (43% of turnover), down by 12% year-on-year. Meanwhile, sales of commercial concrete grew by 25% to US$313m (1.6% of turnover). Overall, the producer’s net profit fell by 33% to US$1.48bn.

Anhui Conch Cement commenced a share buyback programme for up to US$83m-worth of its listed stock in November 2023. At the end of the year, it had repurchased 0.3% of its shares.

Last modified on 20 March 2024
Published in Global Cement News
Tagged under
  • China
  • Anhui Conch
  • Results
  • buyback
  • GCW651

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