QSCC: Net profit is expected to fall due to the great slump in cement price

Byrebecca3360

Updated Fri, 11 Jul 2014 13:21:45 GMT

China - Xinjiang Qingsong Building Materials and Chemicals Co., Ltd. (QSCC) made an announcement on Thursday that according to the preliminary estimation of the company's financial department, the company’s performance in 1H14 is expected to witness a loss that the net profit attributable to shareholders of the listed corporation would be CNY -15 400.

The company said that the fall in net profit was due to the intensified competition in Xinjiang cement market as well as the greatly reduced average price of cement.