Cement News tagged under: China Resources Cement
CRC Cement Holdings to acquire 40% stake in Yunnan producer, China15 September 2015, Published under Cement NewsChina Resources Cement Holdings Ltd (CRC) has agreed to pay CNY1.51bn (US$236.9m) for a 40 per cent stake in cement producer Yunnan Kunming Iron & Steel Building Materials Group Co, in a bid to lift production capacity. The Hong Kong-listed cement manufacturer said Monday it plans to buy a minority stake in the Yunnan-based producer. Kunming Iron & Steel Holding Co, Ltd currently owns 100 per cent of Yunnan Kunming Iron & Steel Building Materials Group, a stake which will be reduced... |
China Resources 1H attributable profit falls 25.6%10 August 2015, Published under Cement NewsChina Resources Cement said its profit attributable to owners for the six months ended 30 June 2015 dropped 25.6 per cent YoY to HK$1530.2m. The basic earnings per share were HK23.4 cents. The turnover was HK$13,404m a decrease of 11.6 per cent from a year earlier. The consolidated gross margin was 25 per cent, representing a decrease of 6.9 percentage points from 31.9 per cent for the corresponding period last year, which was mainly attributable to the lower selling prices of cement and c... |
China Resources Cement 1Q15 attributable profit drops 14% YoY28 April 2015, Published under Cement NewsChina 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 se... |
Citi Research raises target price for China Resources13 April 2015, Published under Cement NewsCiti Research raised its target price for China Resources Cement (CRC) to HK$5 from HK$4.5, and upgraded the stock to "neutral" from "sell". The research house lowered CRC's unit cost of cement and clinker by one per cent to HK$214/t in 2015, thus lifting 2015 GP/t to HK$96/t, taking into account the weak coal price. Citi also factored in a one per cent higher concrete price, revising up its unit GP to HK$97/m3 fromthe previous HK$93/m3. As a result, it adjusted 2015 earnings upward by ... |
China Resources Cement net rises 26% YoY10 March 2015, Published under Cement NewsChina Resources Cement (CRC) announces that it made HKD4.21bn (US$ 542.6m) net profit in 2014, up 26 per cent YoY. Earnings per share were 64.4 HK cents. The company gained HKD 32.67bn in incomes last year, up 11.3 per cent YoY. Gross profits increased 22.3 per cent to HKD10.23bn and gross profit margin rose from 28.5 per cent to 31.3 per cent thanks to price and sales increases. Analysts at Jefferies International said CRC's FY14 earnings were just slightly below consensus estimates, ... |
Barclays raises target price for CRC, maintains rating14 October 2014, Published under Cement NewsBarclays Research raised its target price for China Resources Cement to HK$5.91 (US$0.76) from HK$5.79 and maintained its "equal weight" rating. Despite the strong cement price in southern China so far this year, the research house noted concerns over CRC's long-term growth as volume growth expansion is limited and the company does not have any material consolidation plans so far. Barclays said the fourth quarter usually shows the strongest seasonality for the cement industry. However, ... |
CRC attributable profit surges, China12 August 2014, Published under Cement NewsChina Resources Cement (CRC) said its profit attributable to owners for the six months ended 30 June 2014 rose 79.5 per cent YoY to HK$2056m. Basic earnings per share were HK31.5 cents. Turnover reached HK$15,161m, an increase of 17.9 per cent from a year earlier. The consolidated gross margin was 31.9 per cent, representing an increase of 8.8 percentage points from 23.1 per cent for the corresponding period last year, which was mainly attributable to improved selling prices. |
China Resources sales exceed guidance27 June 2014, Published under Cement NewsChina Resources Cement said its cement and clinker sales prices have exceeded expectations this year, meaning that first half profit "is expected to be significantly increased as compared with the corresponding period in 2013," the company says. "The strong cement price in off season (2Q14) is suggesting better and demand balance in southern China," says Guotai Junan Securities. "We believe cement price might pick up in 4Q14 and recent sell-off makes CR Cement more attractive." |
China Resources Cement 1Q14 profit rises 69.6%13 May 2014, Published under Cement NewsChina Resources Cement said its profit attributable to owners for the three months ended 31 March 2014 rose 69.6 per cent YoY to HK$768m. Turnover was HK$6797m, an increase of 13.8 per cent from a year earlier. The gross profit grew 55.2 per cent YoY to HK$2162m. The consolidated gross margin for the reporting period was 31.8 per cent, representing an increase of 8.5 percentage points from 23.3 per cent for the corresponding period last year, which was mainly attributable to improved sellin... |
China Resources Cement sees strong growth in attributable profit15 April 2014, Published under Cement NewsChina Resources Cement (CRC) has said it expects profit attributable to shareholders for the quarter ending 31 March 2014 to be significantly higher compared to the corresponding period of 2013. The improvement is mainly attributed to higher average selling prices (ASP) of cement and clinker as well as reduced coal costs compared to 1Q13. The company’s quarterly results announcement will be issued at the end of April. Macquarie Research has slightly lifted its target price for the compa... |