(Hong Kong, 5 August 2017) – China Resources Cement Holdings Limited ("China Resources Cement" or the "Company", SEHK stock code: 1313, and together with its subsidiaries, the "Group"), the leading cement and concrete producer in Southern China, announced its interim results for the six months ended 30 June 2017 (the "Period").
During the Period, the Company's consolidated turnover was HK$13.19 billion, representing an increase of 16.6% over the corresponding period last year. Profit attributable to owners of the Company increased by 536.7% to HK$1.64 billion over the corresponding period last year. Basic earnings per share reached HK$0.251. The Board has resolved to declare an interim dividend of HK$0.115 per share for the Period (2016: HK$0.015). The dividend payout ratio was 45.8%. As at 30 June 2017, the total assets of the Group were HK$55.22 billion, the net gearing ratio was 52.7% and the net assets per share was HK$4.28.
In the first half of 2017, our external sales volume of cement and clinker was 37.6 million tons, representing a decrease of 3.7% from the corresponding period last year. Sales volume of concrete was 6.2 million m3, representing an increase of 7.6% over the corresponding period last year. During the Period, the average selling price of cement and clinker was HK$290 per ton, representing an increase of 23.5% over the corresponding period of last year. The average selling price of concrete was HK$371 per m3, representing a decrease of 0.8% from the corresponding period last year. The consolidated gross margin of the Company was 29.5%, representing an increase of 5.7 percentage points as compared to the same period of last year. Net margin was 12.2%, which was 10.2 percentage points higher as compared to the same period of last year. An exchange gain of approximately HK$150 million was generated from non-RMB denominated net borrowings of the Group during the Period (approximately HK$160 million exchange loss for the corresponding period in 2016).
