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News Asia Cement (China) faces first-half sales and profit fall in 2022

Asia Cement (China) faces first-half sales and profit fall in 2022

Written by Global Cement staff 08 August 2022
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China: Asia Cement (China) reported a 7% year-on-year drop in its first-half sales to US$732m in 2022. Its first-half profit was US$46.1m, down by 70% year-on-year from US$156m. The producer sold 13.4Mt of cement during the half. It plans to achieve full-year cement sales of 29.4Mt.

Asia Cement (China) believes that cement demand in China is now on a ‘downward trend.’ It nonetheless remains ‘cautiously optimistic’ about its full-year 2022 results, foreseeing a degree of demand recovery arising from planned government infrastructure investment in the second half of the year.

The Chengdu-Chongqing Economic Circle (CCEC) in Sichuan province and Chongqing municipality represents a growing market for Asia Cement (China). Of a total of 160 planned key projects in the CCEC in 2022, 152 commenced construction during the first half of the year.

Last modified on 10 August 2022
Published in Global Cement News
Tagged under
  • China
  • Asia Cement
  • Asia Cement China
  • Results
  • Government
  • demand
  • Infrastructure
  • Sichuan
  • Chongqing
  • Project
  • construction
  • GCW569

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