China Resources Cement issues profit warning for 2022

China Resources Cement Holdings Ltd has issued a profit warning saying that it expects its profit attributable to owners of the company to contract by 74-78 per cent YoY in 2022.

The fall is being attributed to a rise in the unit cost of sales of cement products by the group in 2022, compared to the previous year, along with lower sales volumes over the 12-month period. 2022 also saw lower average selling prices for cement and clinker in the regions in which the company operates, versus the previous year.