Asia Cement issues profit warning, China

Asia Cement China said it expects the group to record a substantially lower net profit for the first quarter of 2012 compared to the same period of last year.

The decrease is primarily attributed to seasonal and climatic factors and a decrease in the demand for cement leading to a drop in sales. The average selling price of Asia Cement’s product’s was also down in the first quarter of 2012 compared to 1Q11. (Source: ET News)