China Resources Cement posts growth in sales in 2020

Profit attributable to owners of the company increased by 4 percent year-on-year

China Resources Cement has released its 2020's results, posting a growth of 2.9 percent in its turnover, to HKD 40,086.9 million, compared to HKD 38,955.6 million one year before, reports Market Screener.

Profit attributable to owners of the company increased by 4 percent to HKD 8,959.9 million, compared to HKD 8,617.5 million during 2019.

In February 2020, the group completed the construction of one clinker production line with annual production capacity of approximately 1.4 million tons and two cement grinding lines with total annual production capacity of approximately 2.0 million tons in Anshun City, Guizhou.

During the year, the group also added one concrete batching plant and shut down two concrete batching plants. The total annual concrete production capacity decreased by approximately 0.9 million cubic meters compared to the end of 2019.

Cement sales volume amounted to 87,274 tons during 2020, with an average selling price of HKD 372.0 per ton, which resulted in a turnover of HKD 32,462 million. In 2019, 82,528 tons of cement were sold at an average price of HKD 370.7 per ton.