West China Cement Ltd announces a 65% drop in net profit

West China Cement Ltd has reported a 65.3 per cent decrease in its net income from CNY1214.8m (US$168.7m) in 2022 to CNY421.3m in 2023. This came as sales revenue rose slightly by 6.3 per cent rise in sales revenue, from CNY8489.1m to CNY9,020.9m, over the period.

As a result, the company’s earnings per ordinary share fell to CNY0.077, down 65.6 per cent from CNY0.224 the year before. 

Following West China Cement’s poor financial performance, the company has vowed to implement cost control measures to reduce the company's cost of sales.