China: China Resources Cement’s (CRC) profit has fallen by 36% to US$102m in the first nine months of 2016 from US$159m in the same period of 2015. Its turnover fell by 11.5% to US$2.25bn from US$2.55bn. Cement sales volumes grew by 5.4% to 57Mt from 54Mt and clinker sales volumes fell by 22% to 2.9Mt from 3.8Mt. Turnover fell in all regions that the cement producer operates in with the exception of Yunnan and Guizhou. No explanation was provided for the falling turnover and profit but the company did highlight that the average cost per tonne of cement fell by 14% year-on-year.
China Resources Cement’s profit drops by 36% in first nine months of 2016
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