China Resources Cement's 1H profit likely to fall 21%

China Resources Cement has warned of a sharp drop in gross profit margin in 1H12 to 21 per cent from the 33 per cent last year as selling prices for cement products have fallen.

"Starting from 2012, the market selling prices of cement products in China have continued to drop generally. Inevitably, the selling prices of the group's cement products have been impacted," it said in a statement on the Hong Kong stock exchange.