Huaxin Cement sees net profit down 48.32% in 2012

Huaxin Cement Co Ltd, part of the Holcim Group, said net profit last year fell 48.32 per cent to CNY556m (US$91m). It attributed the reduction to severe price competition and its profit contribution to Holcim declined.

Huaxin Cement, which is based in the Hubei province, saw operating revenue for 2012 slid 0.93 per cent YoY to CNY12.52bn (US$2bn).