China Resources warns of significant decrease in full-year attributable profit

China Resources warns of significant decrease in full-year attributable profit
Published: 14 January 2016


China Resources Cement said it expects profit attributable to the owners for the year ended 31 December 2015 to significantly decrease as compared with that of the previous year.

Such decrease is primarily attributable to the lower selling prices of cement and clinker in China in 2015 as compared with those in 2014. It is also due to the depreciation of the yuan against other currencies since the beginning of the third quarter in 2015, resulting in exchange loss generated from non-yuan denominated net borrowings.