China: BBMG Corp expects lower profit on weaker cement demand and pricing

China: BBMG Corp expects lower profit on weaker cement demand and pricing
Published: 15 January 2016

Tagged Under: BBMG Corp China Pricing Demand 

China-based BBMG Corp said it expects to record a 10-22 per cent decrease in net profit attributable to shareholders for the year ended 31 December 2015 compared to a year earlier.

The fall in net profit is mainly attributed to the slowdown in macroeconomic growth and cement production overcapacity in the areas where the group operates, leading to sluggish demand and reduced selling prices versus 2014. Therefore, it recorded a significant decrease in the operating results for its cement segment as compared with the same period of last year.