China Resources Jan-Sep net profit declines 35%

China Resources Jan-Sep net profit declines 35%
21 October 2016


China Resources Cement reported a 35 per cent fall in net profit for the first nine months of 2016 as weaker revenues impacted profits of the Hong Kong-listed cement producer.

Net profit in Jan-Sep declined to HKD838.3m (US$108m) from HKD1.28bn in 9M15. Revenues saw a 12 per cent drop to HKD17.48bn.

For the three months ended September, the company posted a net profit of HKD580.8m, considerably improving on last year’s third-quarter net loss of HKD248m.

Published under Cement News