China Resources Cement issues profit warning

China Resources Cement issues profit warning
Published: 07 October 2015


China Resources Cement (CRC) has said that based on the preliminary assessment of the group’s unaudited consolidated management accounts for the nine months ended 30 September 2015, attributable profit during the period is expected to "significantly decrease" as compared with that of 9M14.

The decline is primarily attributable to lower selling prices of cement and clinker in China compared with the year before, as well as the depreciation of Renminbi against other currencies since the beginning of the third quarter in 2015, resulting in exchange loss generated from non-Renminbi denominated net borrowings.