China Knowledge reported that Anhui Conch Cement Co Ltd the biggest cement producer in Asia by output net profit in the first half fell 51.33% YoY to CNY 2.92 billion under Chinese accounting rules due to sharp declines in cement prices amid weak demand.

The company in its interim report said earnings per share were CNY 0.55 during the period down 51.33% YoY.

The cement producer operating revenue dropped 8.22% YoY to CNY 20.3 billion in the first half. The company gross profit margin declined 15.70 percentage points to 27.09% in the period.

Anhui Conch Cement sold 80.55 million tonnes of cement and clinker in the first six months up by 13.70%YoY.

Source - China Knowledge

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