China Resources Cement revenue falls by 24% to US$609m

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China: China Resources Cement’s revenue has fallen by 24% year-on-year to US$609m in the first quarter of 2016 from US$800m in the same period in 2015. Its gross profit fell by 39% to US$126m from US$207m. However, its profit attributable to the owners of the company fell by 99% to US$0.85m from US$85.1m. It blamed the drop in gross profit on lower selling prices in the quarter compared to 2015.

The cement producer reported that its sales volumes of cement grew by 6% to 15.8Mt in the quarter. Rises in sales volumes were reported in Guangxi, Yunnan and Guizhou.

Last modified on 25 April 2016

URL: https://www.globalcement.com/news/item/4840-china-resources-cement-revenue-falls-by-24-to-us-609m

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