China: China Resources Cement (CRC) turnover fell by 27% year-on-year to US$4.10bn in 2022 from US$5.60bn in 2021. Its profit dropped by 75% to US$247m from US$989m. Its cement and concrete sales volumes decreased by 11% to 72.1Mt and 27% to 10.8Mm3 respectively. During the reporting year the group says it optimised its presence in South China by acquiring majority stakes in Hunan Liangtian Cement and Zhaoqing Jingang Cement, buying a minority stake in Fengqing County Xiqian Cement and by selling a majority stake in Shanxi China Resources Fulong Cement.
China Resources Cement further focuses on South China market in 2022
Written by Global Cement staff
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