Anhui Conch Cement's operating profit down 31% for the first nine months of 2015

Byjirong

Updated Fri, 30 Oct 2015 20:04:53 GMT

China: Anhui Conch Cement's operating profit fell by 31% year-on-year to US$1.1bn in the first nine months of 2015 as weak demand and price competition took a toll. Its revenue dropped by 13% to US$5.96bn.

Chinese demand for cement has languished following a rush of infrastructure building. Domestic cement production shrank by about 5% year-on-year to roughly 1.7Bnt during the first nine months of 2015, according to the National Bureau of Statistics.