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West China Cement Expects Up to 50% Drop in Interim Attributable Profit

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West China Cement (HKG:2233) expects attributable profit of 336.7 million yuan to 374.2 million yuan for the six months ended June 30, down 45% to 50% from 748.3 million yuan a year earlier, according to a Sunday Hong Kong bourse filing.

The company attributed the decline mainly to lower average selling prices and sales volumes of cement in China, partly offset by higher overseas cement sales and revenue, according to a company filing on Friday.

Shares of the cement manufacturer surged 8% in recent trade.

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