Asia Cement reports 21% decline in 1Q net profit

Taiwan-based Asia Cement Corp posted a revenue of TWD19.681bn (US$659.1m) in 1Q22, up 10.1 per cent from TWD17.877bn in the 1Q21.

However, pretax profit declined 27.6 per cent to TWD3.434bn in the 1Q22 from TWD4.744bn in the corresponding period of the previous year.

Net profit decreased 21.3 per cent to TWD2.533bn in the first three months of 2022 from TWD3.2bn in the 3M21.