Xinjiang Tianshan Cement 1Q net profit falls 68 per cent, China

Xinjiang Tianshan Cement 1Q net profit falls 68 per cent, China
Published: 16 August 2012


Xinjiang Tianshan Cement Co Ltd, a cement and concrete manufacturer based in the Xinjiang Uygur Autonomous Region, announced net profit attributable to shareholders to reach CNY123.14m (US$19.3m) in the first half of this year, 68 per cent lower than the same period of last year.

The decline is attributed to a fall in cement prices and higher financial costs, the company said in a statement filed with the Shenzhen Stock Exchange.

Revenue was 0.69 per cent higher from a year earlier to CNY3.8bn. Operating revenue in the core businesses exceeded CNY3.34bn in the six month period, of which CNY2.95bn was accounted for by sales of cement and CNY389.95bn from concrete – down 1.78 per cent and 28.23 per cent, respectively.