Chia Hsin Cement Jan-Sept net falls

Chia Hsin Cement Greater China Holding Corp said its net profit for the nine months to September fell 96.5 pct to US$457,000 year-on-year, even though its turnover rose 4.6 pct to US$64.19m. The group recorded sales of cement and clinker of 2.51Mt, an increase of 26.2 per cent over the same period last year.

Chairman Wang Chien Kuo said in a statement that the group’s average selling prices fell by 17 per cent in the first nine months to September, due to intense
competition in the East China region and a seasonal impact.