Shuangma lowers profit forecasts, China

Shuangma lowers profit forecasts, China
Published: 18 July 2011

Sichuan Shuangma Cement filed that it forecasts a year-on-year increase in first-half net profit of 100-153 per cent to CNY75-95m, reports China Business News.

The company previously predicted a net profit of CNY110m in the first six months of 2011.  Its net profit fell 86.31 per cent to CNY13.35m in the first quarter of 2011, however.

Sichuan Shuangma Cement attributed the net profit drop to a labor shortage, natural disasters and the tighter monetary policy.