Asia Cement first-half profit surges, China

Asia Cement reported a surge in profit attributable to shareholders for the six months ended 30 June 2012 thanks to an increase in the sale cementitious products and declining coal prices.

Profit rose by 110 per cent YoY to CNY256m (US$41.9m). Revenue rose 3.4 per cent to CNY3.18bn and gross profit was CNY584m, representing a gross profit margin of 18 per cent.