BBMG Corp issues profit warning, China

BBMG Corp announced yesterday that it expected its net profit to fall not more than 15 per cent YoY in the first six months of this year, due to pricing pressures.

The company's net profit was CNY1.39bn in the first half of 2012. The company's sales of cement and clinker increased 9.1 per cent YoY to 16.38Mt in the first half. Concrete sales volumes jumped 33.2 per cent YoY to 5.46Mm3 in the period.

The company had earlier reported a loss of CNY61.21m for the first quarter of this year. Operating revenue surged 44.29 per cent YoY to CNY7.73bn in the quarter.