DJ MARKET TALK: Anhui Conch May Fall; 1H Profit +41% But Slows
Aug 17, 2010
0751 [Dow Jones] Anhui Conch Cement's (0914.HK) 1H bottomline only makes up for 38.5% of full-year earnings forecasts of CNY4.67 billion now pegged by Thomson Reuters, may suggest street estimates being overly bullish.
China's largest cement maker posts 1H net profit +41% on year at CNY1.80 billion on higher output, product prices; growth rate slows sharply vs 1Q net profit +94%.
Stock ends down 1.7% at HK$26.20 yesterday; even if aggressively assuming company will earn more in 2H to achieve consensus EPS, stock would still be trading at 17X forward earnings. 50-day moving average at HK$25.28 likely key support.
Source: Dow Jones Newswire