Gansu Qilianshan hit by declining prices, China

Gansu Qilianshan hit by declining prices, China
10 August 2012

Gansu Qilianshan Cement Group Co said that its net profit attributable to shareholders plunged 89 per cent YoY to CNY26.49m (US$4.2m) in the first half of this year due to a sharp fall in selling prices

Basic earnings per share for the period were CNY0.06, less than CNY.52 it booked in the corresponding period of last year.

According to a statement filed with Shanghai Stock Exchange, the company saw its operation revenue reached CNY1.86bn for the period, reflecting a YoY increase of 10 per cent.

From January to June, Qilianshan Cement produced a total of 5.93Mt of cement, while the sales of cement and clinker amounted to 6.34Mt.

Published under Cement News