Tangshan Jidong Cement profit slumps, China

Tangshan Jidong Cement Co’s operating revenue in the first three quarters of 2012 slumped 77.77 per cent YoY while net profit fell 83.06 per cent to CNY241m (US$38.7m).

Earnings per share in the first three quarters plunged 84.71 per cent YoY.

For the third quarter alone, operating income fell 3.51 per cent to CNY4.72bn and net profit stood at CNY129m which is a decline of 80.84 per cent.