China: Asia Cement (China) Holdings’ whole-year net profit for 2019 was US$444m, up by 30% year-on-year from US$341m in 2018. Revenues grew by 11%, to US$1.78bn from US$1.60bn in 2018.
The group said that it expects cement demand to shrink in early 2020, recovering in early/mid-2020 to remain ‘at peak season level’ into late 2020, according to Reuters.