China Resources Cement: Expected loss of HK $35 million to HK $45 million in the first quarter turned from profit to loss on a year-on-year basis

2023-04-11 13:43:34

The Group expects to achieve a loss attributable to owners of the Company of approximately HK $35 million to HK $45 million in the first quarter of 2023, compared with a profit attributable to owners of the Company of HK $729.5 million in the same period last year.

On April 11, China Resources Cement Holdings (01313. HK) announced that the group expects to achieve a loss of about HK $35 million to HK $45 million in the first quarter of 2023, compared with a profit of HK $729.5 million in the same period last year. This was mainly due to: (1) a decrease in the selling price of the Group's products during the period as compared to the same period in 2022; and (2) a one-off gain on disposal of a subsidiary of HK $239.1 million in the first quarter of 2022.

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The Group achieved a turnover of HK $12,173 million, representing a decrease of 24.5% as compared to the same period last year. Profit attributable to owners of the Company was HK $621 million, representing a decrease of 65.6% as compared to the same period last year.

2023-08-19 09:15:24

The Group expects to achieve a loss attributable to owners of the Company of approximately HK $35 million to HK $45 million in the first quarter of 2023, compared with a profit attributable to owners of the Company of HK $729.5 million in the same period last year.

2023-04-11 13:43:34