China Resources Holding forecasts significant increase in 1Q18 earnings

China Resources Cement Holdings (CRCH) said it expects a "significant increase" in group net profit for the first quarter ending on 31 March 2018, after it more than doubled its profit last year.

Average selling prices of the company's cement products were about 33 per cent higher over the first two months of 2018 from a year earlier, the company said in a stock exchange filing.

CRCH's group net profit jumped to HKD3.62bn (US$462m) in 2017, rising about 173 per cent from the year-ago period, reports  Asia Nikkei. Its annual turnover rose 16.8 per cent to HKD29.96bn.