Asia Cement (China) Holdings<0743>, a mainland subsidiary of Taiwan-based Asia Cement Corp, said Friday that its unaudited net profit reached RMB 477.5 million in the first nine months of this year.

The figure reflects a surge of 74% compared with the RMB 275 million earned in the same period of last year, said the company in filing with the Hong Kong Stock Exchange.

Earnings per share were RMB 0.31, according to the statement.

The company's turnover during the same period was RMB 3.06 billion, up 39% year on year.

Asia Cement (China) expects that cement prices will rise on growing demand in the fourth quarter.

In 2008, the company earned RMB 411 million in net profit, 67% more than in the 2007. The company's turnover last year was RMB 3.25 billion, up 44% from a year earlier.