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Anhui Conch profit down
August 16, 2012, Thursday
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Anhui Conch Cement Co, China's biggest cement producer by output, yesterday announced its net profit plunged nearly 51 percent year on year in the first six months of this year.
The sharp decline is a result of slower housing development and other fixed-asset investment hobbling amid the economic slowdown.
Conch's net profit slumped to 2.93 billion yuan (US$462 million), down 50.96 percent from a year earlier, the company said in a statement filed with the Shanghai Stock Exchange.
Operating revenue dropped 7.92 percent to 20.56 billion yuan, while earnings per share stood at 0.55 yuan in the first half of 2012.
(Xinhua)
The sharp decline is a result of slower housing development and other fixed-asset investment hobbling amid the economic slowdown.
Conch's net profit slumped to 2.93 billion yuan (US$462 million), down 50.96 percent from a year earlier, the company said in a statement filed with the Shanghai Stock Exchange.
Operating revenue dropped 7.92 percent to 20.56 billion yuan, while earnings per share stood at 0.55 yuan in the first half of 2012.
(Xinhua)
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