Chinese results nosedive in first half

摘要

Following poor results from other Chinese cement producers, Xinjiang Tianshan Cement Co Ltd, based in the Xinjiang Uyghur Autonomous Region, has announced a first half net profit of US$18.9m, a drop of '60-80%' year-on-year. The company stated that the decline in its half-year net profit had been largely due to lower cement selling prices and rising financial expenditure. Other companies have stated that rising costs have included higher fuel prices, although this was not specified by Xinjiang Tianshan.