Preliminary results for 2013
China Resources Cement Holdings Ltd has announced its Board’s preliminary assessment for 2013, based on unaudited consolidated accounts. Sales volumes of cement and clinker in January – December 2013 grew by 16% y/y. Compared to the corresponding period in 2012, sales volumes of concrete were up by around 13%. With its gross margin for 2013 also improving year-on-year, the Group expects profits to be substantially higher than in 2012.
Cement supply contract
In November 2013, the Group announced that its subsidiary China Resources Cement Investments Company Ltd entered into a strategic co-operative framework agreement with Jianhua Construction Materials (China) Investment Company Limited. Under the agreement, Jianhua will give priority to the Group when purchasing cement in regions where both companies operate production facilities, and China Resources Cement will guarantee timely delivery of cement at a favourable market price. The agreement is valid for five years.
Jianhua manufactures concrete piles and has the largest market share, sales volumes and production capacity in the People’s Republic of China. The agreement will provide China Resources Cement with the opportunity to develop new businesses and products.
Adapted from press release by Louise Fordham