Tangshan Jidong Cement net profit drops 88.19%, China

Tangshan Jidong Cement net profit drops 88.19 per cent, China Co Ltd net profit slumped 88.19 per cent, the company said in a statement.

Operating revenue slid 7.09 per cent YoY to CNY14.61bn (US$2.36bn), with basic earnings per share of CNY0.13. The company plans to pay a cash dividend of CNY1 (including tax) for every ten shares held.

Jidong Cement plans to produce 72Mt of cement in 2013, a YoY increase of 20 per cent.