(Hong Kong, 10 March 2017) – China Resources Cement Holdings Limited ("China Resources Cement" or the "Company", SEHK stock code: 1313, and together with its subsidiaries, the "Group"), the largest cement and concrete producer in Southern China, announced its annual results for the year ended 31 December 2016.
During the year, the Company's consolidated turnover amounted to HK$25,647.5 million, representing a decrease of 4.2% from last year. Profit attributable to owners of the Company amounted to HK$1,325.9 million, representing an increase of 30.6% over last year. Basic earnings per share reached HK$0.203. The Board recommends the payment of a final dividend of HK$0.075 per share for the year ended 31 December 2016. Along with the interim dividend of HK$0.015 per share, the annual dividend was HK$0.09 per share (2015: HK$0.08 per share), representing a dividend payout ratio of 44.3%. As at 31 December 2016, the total assets of the Group was HK$52,156.5 million, the net gearing ratio was 56.4% and the net assets per share was HK$3.98.
In 2016, our external sales volume of cement, clinker and concrete reached 80.0 million tons, 4.9 million tons, and 12.4 million m3, representing an increase of 4.3%, 4.9% and 0.7% respectively. During the year, the Group's utilization rates of cement, clinker and concrete production lines were 101.5%, 114.3% and 35.9% respectively. The average selling price of cement decreased by 6.6% to HK$252.0 per ton while the average selling price of concrete decreased by 12.2% to HK$365.9 per m3. The consolidated gross profit 27.4%, which was 3.4 percentage points higher than 24.0% of last year. The net profit 4.9%, which was 1.4 percentage points higher than 3.5% of last year.
