July 18 -- Sichuan Shuangma Cement (000935) filed that it forecasts a year-on-year increase in first-half net profit of 100.15-153.52 percent to 75-95 million yuan, reports China Business News.

The company previously predicted a net profit of 110 million yuan in the first six months of 2011.  Its net profit fell 86.31 percent to 13.35 million yuan in the first quarter of 2011, however.

Sichuan Shuangma Cement attributed the net profit drop to a labor shortage, natural disasters and the tighter monetary policy. Sichuan Shuangma Cement was acquired by French company Lafarge Group in 2005.

Separately, Sichuan Shuangma Cement’s competitor Anhui Conch Cement Company (600585) predicted a 200-percent increase in first-half net profits this year.

Source:CapitalVue