BEIJING -- Anhui Conch Cement Co Ltd, China's biggest cement producer by output, said its net profit soared 124.66 percent year-on-year to 3.06 billion yuan ($482.4 million) in the third quarter of 2011.

The profit upsurge was driven by increases in both cement prices and sales volume, Conch said in a statement filed with the Shanghai Stock Exchange on Wednesday.

Operating revenue stood at 12.6 billion yuan for the third quarter, according to Conch.

The share price of dual-listed Conch rose more than 4 percent in Shanghai in morning trading and gained 2.6 percent in Hong Kong.