The profits declined due to slowdown in construction activities
China-based Anhui Conch Cement recorded a 32 percent fall in profit to CNY 7.5 billion in 2015 as compared to CNY 11 billion in the same period a year earlier, reports Reuters.
The profits declined due to due to slower construction activities.
China’s economic slowdown is evident from expedition in construction activities in several sectors of the infrastructure and real estate sectors, which is dampening demand for building materials, including cement and steel.
Anhui Conch aims to produce 10 percent more cement and clinker this year, anticipating pick up in construction sector in the second half of the year.