CITIC Dameng (01091) said its loss attributable to owners of the parent for the six months ended 30 June 2016 narrowed to HK$137 million from HK$281 million for the same period in 2015.
Basic and diluted loss per share was HK4 cents.
The revenue was HK$1,276 million, a decrease of 5.6% from a year earlier.
Gross profit surged 2.3 times year-on-year to HK$139 million. The Group's overall gross margin was 10.9%, representing an increase of 7.8 percentage points from 3.1% of 1H 2015. Improved overall gross margin was mainly attributable to lower unit cost of production of EMM; and much smaller inventory provision for 1H 2016 of HK$7 million (1H 2015: HK$45.3 million) for manganese products, in particular manganese ores, as the price of manganese products became more stable in the period.
No interim dividend will be distributed.
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