Asia Cement 1H profit plunges, China

Asia Cement (China) said its profit attributable to owners for the six months ended 30 June 2015 plunged 97.4 per cent YoY to CNY9.85m, attributable to the decrease in average selling price of the company's products.

The revenue was CNY3006m, a decrease of 23.1 per cent from a year earlier. The gross profit margin on revenue dropped to 14 per cent from 24 per cent.