China: China National Building Material (CNBM) expects to record a 65% year-on-year drop in its profit in 2023. This would correspond to a figure of US$393m, against a reported profit after tax of US$1.12bn in 2022. Reuters has reported that CNBM partly attributed the anticipated drop to low cement prices and changes in the fair value of its assets.
China National Building Material’s profit dropped in 2023
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