China Resources Cement sees substantial rise in 1H attributable profit

China Resources Cement said its profit attributable to owners for the six months ended 30 June 2017 surged to HKD1639.8m, translating into an increase of over 500 per cent from the comparative period of the previous year.

JPMorgan, in its report, considered that the substantial rise was mainly attributed to higher product prices and exchange gain.

Turnover amounted to HKD13,188.4m, an increase of 16.6 per cent from a year earlier.

Gross profit grew 44.4 per cent YoY to HK$3895.6m. The consolidated gross margin was 29.5 per cent representing an increase of 5.7 percentage points from 23.8 per cent for the corresponding period last year.