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Anhui Conch Cement reports 51.33% plunge in profit for H1

Aug. 15, 2012 (China Knowledge) - Anhui Conch Cement Co Ltd<600585><0914>, the biggest cement producer in Asia by output, announced yesterday that its net profit in the first half fell 51.33% YoY to RMB 2.92 billion under Chinese accounting rules, due to sharp declines in cement prices amid weak demand.

Earnings per share were RMB 0.55 during the period, down 51.33% YoY, said the company in its interim report.

The cement producer's operating revenue dropped 8.22% YoY to RMB 20.3 billion in the first half.

The company's gross profit margin declined 15.70 percentage points to 27.09% in the period.

Anhui Conch Cement sold 80.55 million metric tons of cement and clinker in the first six months, 13.70% more than in the same period of last year.

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