Asia Cement profit falls, China

Asia Cement (China) said that revenue for the first nine months of 2012 was CNY4.73bn (US$757m), a decline of 19.83 per cent from a year earlier. Gross profit declined 58.5 per cent to CNY696m and gross profit margins fell 15 per cent, down by 13 percentage points compared to the same period of last year.

Net profit attributable to shareholders fell 84.8 per cent YoY to CNY147m for the first nine months of the year.

Its basic and diluted earnings per share were CNY9.4 cents.