BBMG expects rise of up to 12% in net profit for 2017

BBMG Corp expects a rise in net profit of 0.5-11.5 per cent YoY for the full-year of 2017, reports Nikkei. This translates to a net profit between CNY2.7bn (US$418.9m) and CNY3bn for the period. The significant increase shown in these preliminary results are the consequence of higher cement sales and better margins in the company’s cement and clinker businesses.

After the deduction of non-recurring items, the net profit is expected to be between -11.7 and 4.6 per cent (CNY1.9-2.25bn) when compared to the year-ago period. The change in net profit after the non-recurring items has been attributed to the disposal of subsidiaries and fixed assets during the year.