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News China National Building Material expects first-quarter losses to double

China National Building Material expects first-quarter losses to double

Written by Global Cement staff 18 April 2024
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China: Beijing-based China National Building Material (CNBM) anticipates its first-quarter losses to increase by more than 50% to US$180m, up from US$72.6m in 2023. The company attributes the increased losses to lower selling prices for its key products, worsening performance of associates, and higher currency losses, despite a decrease in cost of sales. Following a meeting with CNBM, Citi analysts reported a 10% year-on-year fall in demand for the cement sector in the first quarter of 2024, with a forecasted full-year decline of 3%-5%.

Last modified on 24 April 2024
Published in Global Cement News
Tagged under
  • China
  • China National Building Material
  • CNBM
  • Results
  • Loss
  • decline
  • GCW656
  • Outlook
  • Forecast
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