China: China National Building Material Company’s (CNBM) sales revenue rose by 1% year-on-year to US$14.8bn in 2016 from US$14.6bn in 2015. Its profit rose by 1% to US$410m from US$406m. The group’s sales of cement and clinker grew by 4.2% to 291Mt in 2016. Despite earlier reporting falls in operating revenue and profit of over 5% for the first nine months of 2016 the cement producer attributed the turnaround to production efficiencies and adherence to state-mandated supply-side reforms. It added that despite a ‘grim’ national economy the cement sector underwent a ‘weak’ recovery as reforms kicked in leading to growth in cement prices.
China National Building Material Company stabilises in 2016
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