BBMG Corp sees fall in net profit on lower prices, China

BBMG Corporation said its preliminary net profit attributable to shareholders dropped 26.48 per cent YoY to CNY2.52bn (US$405) in 2012 mainly due to a decline in selling prices for its products.

The Chinese cement producer said basic earnings per share were CNY0.59, a decline of 27.16 per cent from a year earlier. Total operating revenue was CNY33.29bn, representing a YoY rise of 15.83 per cent. Operating profit fell 21.7 per cent to about CNY2.8 billion.