CITIC Resources Posts Lower Mid-Year Profits

CITIC Resources Holdings (HK:1205) has released an update.

CITIC Resources Holdings reported a decrease in profit by 7.9% to HK$353.1 million in its interim results for the first half of 2024, compared to the same period last year. The decline is attributed to lower coal and aluminium prices and reduced profits from a joint venture. Despite the dip, all company segments remained profitable, and CITIC maintained a strong financial position with significant cash reserves.

For further insights into HK:1205 stock, check out TipRanks’ Stock Analysis page.