China Resources Cement has reported its 1H15 results, which show a decrease in turnover of 11.6 per cent to HK$13.4 billion. Commenting on the results, Zhou Longshan, Chairman of the company, said: "In the first half of 2015, the Chinese government continued to adopt prudent monetary policy and proactive fiscal measures to maintain economic growth within a reasonable range. During the period, the Chinese government accelerated the approval of infrastructure projects and actively promoted the "public-private partnership" model, extensively covering industries."
China Resources Cement sold 34.8 mt of cement in 1H15 and 2.7 mt of clinker. This represents a decrease of 11.3 per cent and 21.6 per cent, respectively, over the previous year. Guangdong and Guangxi remain the group?s core markets, accounting for 41,1 per cent and 28.1 per cent of cement sales, respectively. Selling prices decreases about 16.4 per cent over the period, while concrete prices increased 4.2 per cent y/y, as a higher proportion of sales volume were from the Hong Kong market where prices are relatively higher.