China Resources Cement 1Q15 attributable profit drops 14% YoY

China Resources Cement said its profit attributable to owners for the three months ended 31 March 2015 dropped 14 per cent YoY to HK$660m (US$85m). Basic earnings per share were HK$0.101.

Turnover was HK$6202m, a decline of 8.7 per cent from a year earlier. The consolidated gross margin for the reporting period was 25.9 per cent, representing a decrease of 5.9 percentage points from 31.8 per cent for the corresponding period last year. The decrease was mainly attributable to reduction in selling prices of cement products compared with the corresponding period last year.