China National Building Material or CNBM (HKG:3323) expects an attributable profit of around 2.95 billion yuan for the nine months ended Sept. 30, compared with an attributable loss of 684 million yuan a year prior, a Tuesday Hong Kong bourse filing said.
The building materials maker attributed the forecast to a lower cost of sales and higher sales price of certain products, a boost in wind power blade and coating sales, and a rise in profits attributed by associates.
The improved results were also attributed to an increase in net profit from fair value changes of financial assets recognized at fair value through profit or loss.
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