(Hong Kong, 11 August 2019) – China Resources Cement Holdings Limited ("China Resources Cement" or the "Company", SEHK stock code: 1313, and together with its subsidiaries, the "Group"), a large-scale and competitive cement, clinker and concrete producer in Southern China, announced its interim results for the six months ended 30 June 2019 (the "Period").
During the Period, the Company's consolidated turnover amounted to HK$17,409.5 million, representing a decrease of 6.0% from the corresponding period last year. Profit attributable to owners of the Company amounted to HK$3,766.0 million, representing a decrease of 6.5% from the corresponding period of last year. Basic earnings per share reached HK$0.539. The Board has resolved to declare an interim dividend of HK$0.260 per share for the Period (1H18: HK$0.275). The dividend payout ratio was 48.2% (1H18: 47.7%). As at 30 June 2019, the total assets of the Group were HK$60,074.4 million, the net gearing ratio was 6.1% and the net assets per share was HK$5.63.
In the first half of 2019, China Resources Cement's external sales volume of cement, clinker and concrete reached approximately 36.5 million tons, 2.0 million tons, and 6.3 million m3, representing decreases of 4.0%, 2.4% and 9.7% respectively from the corresponding period last year. During the year, the Group's utilization rates of cement, clinker and concrete production lines were 92.4%, 105.7% and 34.6% respectively. During the Period, the average selling prices of cement, clinker and concrete for the Period were HK$373.3 per ton, HK$338.1 per ton and HK$493.4 per m3, representing a decrease of 4.6%, an increase of 3.2% and an increase of 16.5% respectively from the corresponding period last year. The consolidated gross margin of the Company was 38.9%, representing a decrease of 0.5 percentage points as compared to the same period of last year. Net margin was 21.9%, which was 0.1 percentage points higher as compared to the same period of last year.
