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News China Resources Cement's profit plummets in 2022

China Resources Cement's profit plummets in 2022

Written by Global Cement staff 13 January 2023
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China: China Resources Cement (CRC) recorded a 74 - 78% year-on-year net profit drop in 2022. As such, its full-year net profit was US$255 - 302m. Reuters has reported that the group attributed the drop to subdued demand from construction, increased production costs and low cement and clinker prices in the regions where it operates.

Despite the slow situation in the construction market, CRC's property development arm recorded a rise in its rental income throughout 2022.

Last modified on 18 January 2023
Published in Global Cement News
Tagged under
  • China
  • economy
  • Profit
  • market
  • construction
  • demand
  • costs
  • Price
  • residential
  • homebuilding
  • GCW591

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