Asia Cement forecasts 75% fall in profit

Asia Cement (China) Holdings Corp has issued a profit warning stating that its unaudited profit attributable to equity holders for 2022 is expected to decline by approximately 75 per cent YoY.

This is being blamed on a fall in sales volumes and selling prices of the company’s products, along with an increase in the cost of coal, compared to 2021.

Full results for 2022 will be published at the end of March 2023.