China Tianrui Group Cement expects 30% drop in 2015 profit

Chinese cement manufacturer China Tianrui Group Cement Co said Thursday it expects its 2015 net profit to drop more than 30 per cent from a year earlier. The decline is attributed to weaker domestic cement demand and lower selling prices.

The company, which didn't specify its expected net profit for the year, posted a net profit of CNY564.9m (US$86.6m) in 2014.

The 2015 financial results will be released by the end of March, the company said.