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Xinjiang Tianshan Cement’s H1 profit down 67.8% YoY

Aug. 16, 2012 (China Knowledge) - Xinjiang Tianshan Cement Co Ltd<000877>, a cement and concrete manufacturer based in the Xinjiang Uygur Autonomous Region, has announced its net profit attributable to shareholders to reach RMB 123.14 million in the first half of this year, 67.83% lower than it realized in the same period of last year.

According to a statement filed with Shenzhen Stock Exchange, the company says the decline in net profit was due to the huge decrease in the prices of cement and higher financial costs.

Basic earnings per share for the period were RMB 0.14.

From January to June 2012, the cement and concrete manufacturer's operation revenue grew 0.69% from a year earlier to RMB 3.38 billion.

Operating revenue in core businesses exceeded RMB 3.34 billion in the six-month period, of which, RMB 2.95 billion was contributed by the sales of cement and RMB 389.95 million from concrete, down 1.78% and up 28.23% YoY, respectively.

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