Gansu Qilianshan Cement net profit drops, China

Gansu Qilianshan Cement Group reported a 3.95 per cent YoY decline in third quarter net profit  to CNY141m (US$22.5m). In the first three quarters, net profit fell 57.48 per cent to company reaped CNY167m net profits in the first three quarters, falling by 57.48 percent over the period last year.

Operating revenues reached CNY1.352bn in the third quarter, rising by 20.28 per cent YoY. Operating in the first three quarters were CNY3.208bn, advancing14.25 per cent over the period last year.