OREANDA-NEWS. February 27, 2013. CITIC Resources Holdings Limited (“CITIC Resources” or the “Company”) (HKEx stock code: 1205) announced the audited annual results of the Company  and its subsidiaries (the “Group”) for the 12 months ended 31 December 2012.

During the year, supported by the favourable performance of the import and export of commodities and oil segments, the Group recorded a total revenue of approximately HKD 48.4 billion, representing a satisfactory increase of 25.8% over the last year. Excluding the one - off items, which in clude the gains from disposals of the Group’s partial interest in the Codrilla project and entire interest in Macarthur Coal Limited in 2011, as well as the asset impairment losses, the Group recorded the underlying EBIT at HKD 1,646.1 million and its adjusted profit attributable to shareholders increased by 107.4% to HKD 235.9 million.

Total debt also dropped by 10.1% to HKD1,076.7 million.

Mr. Zeng Chen, Vice Chairman and Chief Executive Officer of the Group, stated:
“Although global economy stayed gloomy with volatile commodity prices by implementing our focused diversification strategy, we were able to stay resilient and achieved a stable overall performance. On operation level, we are pleased to see that all our projects were progressing steadily despite significant challenges during the year”

Mr. Zeng added, “We have also successfully concluded two significant term loan facilities that amounted to USD780 million, providing the Group with additional financial flexibility and allowing the Group to tap on new financing channels”.