China: Asia Cement reports 1H16 loss

China: Asia Cement reports 1H16 loss
Published: 09 August 2016


Asia Cement (China) has released trading figures for the half of 2016, which reveal that the company made a loss of CNY64.6m (US$9.7m) for the period, ET Net reports.

In the same six months in 2015, the company had made a profit of CNY9.85m (US$1.5m). The loss comes on the back of revenues that were down seven per cent YoY to CNY2.8bn (US$420m).

The fall in profitability was attributed to lower prices and increased costs in servicing US dollar-denominated debts.