West China Cement (HKG:2233) announced that the group expects that there will be a decline of not less than 50% in the group’s net profit for the six months ending 30 June 2012 as compared with the corresponding period last year.

The board considers that such decline is primarily attributable to the decrease in the selling prices of cement products in Shaanxi Province since the beginning of the third quarter of 2011. Whilst there has been a rebound in cement prices in Shaanxi Province in the second quarter of 2012, selling prices of cement products for the six months ending 30 June 2012 have been significantly lower compared with the corresponding period in 2011.

The interim results announcement of the company for the six months ending 30 June 2012 is expected to be issued in mid-August 2012.

Source:chinesestock.org