China Knowledge reported that Anhui Conch Cement Co Ltd the biggest cement producer in Asia by output expected its net profit to soar more than 80% last year.

The cement producer said in a statement filed with the Shanghai Stock Exchange that the robust growth in net profit was due to increases in both sales price and volume.

The company did not disclose any further specific figures on its 2011 performance.

In 2010, the company net profit was CNY 6.17 billion based on Chinese accounting standards.

(Sourced from China Knowledge)