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News Tangshan Jidong Cement’s income rises but profit falls in first half of 2022

Tangshan Jidong Cement’s income rises but profit falls in first half of 2022

Written by Global Cement staff 02 September 2022
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China: Tangshan Jidong Cement’s operating income rose by 3% year-on-year to US$2.44bn in the first half of 2022 from US$2.36bn in the same period in 2021. However, its net profit fell by 7% to US$165m from US$178m. Its sales volumes of cement and clinker dropped by 20% to 38.4Mt from 48Mt. It has a reported clinker and cement production capacity of 110Mt/yr and 176Mt/yr respectively. The cement producer said that demand for cement was weak, especially in April and May 2022, with no seasonal rebound. It blamed its falling profits on geopolitics, coronavirus and a downturn in the real estate sector.

Last modified on 07 September 2022
Published in Global Cement News
Tagged under
  • China
  • Tangshan Jidong
  • Results
  • Jidong Cement
  • GCW573

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