OREANDA-NEWS. September 02, 2013. СITIC Resources Holdings Limited (“CITIC Resources” or the “Company”) (HKEx stock code: 1205) announced unaudited interim results of the Company and its subsidiaries (collectively the “Group”) for the six months ended 30 June 2013 (the “Period”).

During the Period, due to the slowdown of the global economy in particular that of China, demand for commodities was seen to soften resulting also in weaker selling prices. The Group’s performance during the Period was affected by such cyclical market volatility with total revenue of approximately HKD21.3 billion recorded, representing a decrease of 2.3% over the same period last year. Underlying EBIT stood at HKD 572.4 million. Affected also by the one-off expense of HKD 91.5 million incurred by the repurchase in February 2013 of USD 201.08 million in principal amount of the USD 1,000,000,000 6.75% senior notes due 2014 (the “Notes”), profit attributable to shareholders went down by 54.3% to HK\\$104.3 million.

Mr. Zeng Chen, Vice Chairman and Chief Executive Officer of the Group, stated, “Despite the lackluster performance triggered by the contraction in global demand for and prices of commodities as well as the one-off expense incurred from the repurchase of part of the Notes, we remain committed to our focused diversification strategy which enables us to sustain our growth momentum in long term. We completed during the Period the strategic acquisition of an additional 7% interest in the Coppabella and Moorvale coal mines joint venture (the “CMJV”) and the subscription of equity interest in Alumina Limited (“Alumina”), enabling us to extend our foothold in the world class upstream asset of aluminum industry. We are also glad to see the progress made at the Yuedong oilfield.”