News

West China expects FY below expectations

17 September 2007 11:18:00

West China Cement saw interim profits rally by 72% but shares plunged after it warned that full-year results are expected to be slightly below current market expectations.

"The outlook remains robust although recent trading has been affected by unusually severe rain, especially in August," said the group.

"Accordingly we expect full year results to be slightly below current market expectations although every effort will be made to make up the shortfall in the fourth quarter," it added.

Pre-tax profit rose to 56m rmb (Chinese Yuan) in the six month to 30 June compared to 32m rmb last time on turnover up by 46% to 201m rmb.

The group also said that it might be looking at its financing options to realise its potential over the next two to three years.

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