BEIJING (dpa-AFX) - Chinese ceramic tiles maker China Ceramics Co., Ltd. (CCCL) reported Wednesday that net loss for the first half of 2019 ended June 30, 2019 widened to RMB 193.1 million or $28.5 million from RMB 71.9 million or $11.3 million in the same period of 2018. Loss per share was RMB 32.23 or $4.75, compared to loss per share of RMB 17.23 or $2.71 last year.
Revenue for the first half declined to RMB 177.4 million or $26.2 million from RMB 355.6 million or $55.9 million in the previous year.
For the second half of 2019, the company expects market conditions to continue to be challenging due to the slowdown of China's economy and possible government regulations intended to rein in real estate speculation.
However, the company believes that its building materials sector will continue to benefit from urbanization and real estate property development which are both vital to China's continued growth.
As announced, the company intends to enter new markets in Southeast Asia where it expects the marketing of its existing products and its new ceramic tiles that cool building interiors will be successful.
Copyright RTT News/dpa-AFX