Huaxin Cement has posted revenue of CNY7.08bn (US$977m) in the first quarter of 2024, ended 31 March, up 6.9 per cent on the same period a year earlier. Net income over the same timeframe declined 28 per cent to CNY177.5bn.
Meanwhile, the profit margin fell from 3.7 per cent in the 1Q23 to 2.5 per cent in the 1Q24, reportedly driven by higher expenses. Earnings per share in the 1Q24 stood at CNY0.09, down from CNY0.12 in the year ago period.
According to Simply Wall St, revenue exceeded analyst expectations by 19 per cent, while earnings per share missed analyst estimates by 33 per cent. Looking ahead, Huaxin’s revenue is forecast to advance by 7.3 per cent each year on average for the next three years. This compares to a growth forecast of 8.3 per cent for the basic materials industry in China.
