China Resources Cement 1Q14 profit rises 69.6%

China Resources Cement said its profit attributable to owners for the three months ended 31 March 2014 rose 69.6 per cent YoY to HK$768m.

Turnover was HK$6797m, an increase of 13.8 per cent from a year earlier. The gross profit grew 55.2 per cent YoY to HK$2162m. The consolidated gross margin for the reporting period was 31.8 per cent, representing an increase of 8.5 percentage points from 23.3 per cent for the corresponding period last year, which was mainly attributable to improved selling prices compared with the corresponding period last year.