China Resources Cement Holdings Ltd has reported a 13.8% y/y rise in turnover for 1Q14. Gross profit reached HK$2162 million, up 55.2% y/y, while the group’s gross margin improved by 8.5 percentage points, mostly due to higher selling prices. The gross margin for cement increased from 24.8% to 35.9%, clinker improved from 10.8% to 19.2%, while concrete fell from 24.8% to 21.5% when compared with 1Q13.
China Resources Cement Holdings Ltd sold 13.189 million t of cement during the period, with the greatest volume dispatched in Guangdong (5.514 million t) and in Guangxi Province (3.832 million t). More than 2 million t of clinker and over 3 million m3 of concrete was sold in January – March 2014.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/asia-pacific-rim/13052014/china_resources_cement_holdings_ltd_1q14_results_185/