SCCC's quarterly earnings double
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Siam City Cement's second-quarter net profit doubled from Bt809 million to Bt1.6 billion, thanks to higher demand for cement and construction materials.
In a filing to the Stock Exchange of Thailand, the company said that its sale revenue in the quarter rose 11.8 per cent to Bt15.06 billion.
It noted that aside from higher demand, cement prices in the country and along borders rose in the quarter. This followed infrastructure investment plans as well as consistent demand in the housing market and commercial construction activities.
Though it suffered from higher electricity cost, wage and transportation cost, the company benefited from a drop in coal prices. Moreover, its energy-efficiency projects helped lower the energy cost.
