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BBMG expects 12.75% drop in H1 net profit

Jul. 23, 2012 (China Knowledge) - BBMG Corp<2009>, a Beijing-based building materials manufacturer, has announced that it expected its net profit to fall 12.75% YoY to RMB 1.43 billion in the first half of this year.

Earnings per share were RMB 0.33 in the period, said the company in a statement.

BBMG attributed the decline in the profit to a decrease in cement prices amid weak demand.

The company's operating revenue was forecasted to rise 14.84% YoY to RMB 15.02 billion in the first six months.

The cement producer earlier reported a net profit attributable to shareholders of RMB 293 million for the first quarter of this year, 32.94% less than in the corresponding period of 2011.

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