CITIC Resources Reports Strong Revenue Growth and Profit Increase for 2024

The latest update is out from CITIC Resources Holdings ( (HK:1205) ).

CITIC Resources Holdings Limited announced its annual results for the year ended 31 December 2024, showing a significant revenue increase of 148.3% to HK$9,497.8 million. The profit attributable to ordinary shareholders rose by 3.8% to HK$572.6 million, driven by gains from transferring equity interest in Alumina Limited for interests in Alcoa Corporation and an increase in the share of profit from Alumina Limited. Despite a decrease in the average selling prices of crude oil and coal, all segments recorded profits, and the company maintained a strong financial position with cash and deposits of approximately HK$2,031.4 million.

More about CITIC Resources Holdings

CITIC Resources Holdings Limited is a company incorporated in Bermuda with limited liability, focusing on the energy sector. The company is involved in the production and sale of crude oil and coal, and it has investments in the alumina industry.

YTD Price Performance: -6.25%

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $353.8M

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