SCG posts higher revenue, profits in third quarter

Kan Trakulhoon, president and chief executive of SCG, said the company was optimistic of continued growth of its chemicals business. With its confidence in strength economy and sustainable growth of Thailand and ASEAN, SCG moves forwards to expand business in Thailand and the ASEAN regionas well as continuously developHigh Value-Added (HVA) products and services.
He said that besides Thailand, SCG’s investment direction would be focused on Asean countries such as Vietnam, Indonesia and Myanmar, and on high-value-added (HVA) products. The move is in line with the increasing price of natural gas next year, which will boost price of electricity. The labour cost in Thailand is also increasing significantly. Kan said the company would invest Bt210 billion for regional expansion in the next five years.
SCG also announced its third consecutive year record of the Global Industry Leader in the Construction Materials industrylisted by the Dow Jones Sustainability Indices (DJSI).
To commemorate its 100th anniversary, the company announced an interim dividend of Bt3 per share.
Revenue from sales in the third quarter amounted to Bt113.8 billion, an increase of 9 per cent year on year as all business units grew, and an increase of 7 per cent quarter on quarter.
The profit for the period registered Bt9.79 billion, a 53-per-cent increase year on year, following the continued recovery of chemicals margins and volume, growths in the domestic cement demand, and non-recurring gain of Bt1.7 billion from the fair investment value adjustment of sanitary ware and fixtures assets, and from the sale of assets to TOTO.
SCG recorded revenue from sales of Bt329.8 billion for the first nine months, a 7-per-cent increase year on year. Profit for the period increased 71 per cent year on year to Bt28.5 billion.
Even though several parties are concerned with an anticipating slowdown of Thailand and ASEAN economic growth, SCG has confidence in the strength and the sustainable growth of Thailand and ASEAN. Accordingly, SCG remains striving towards driving its business expansion in both Thailand and ASEAN, following its vision of becoming an ASEAN sustainable business leader. Moreover, SCG continues to drive planned investment project in ASEAN such as the cement plant in Indonesia, Myanmar, and Cambodia, and the petrochemical complex in Vietnam.
SCG’s operating results in Asean (excluding Thailand) showed revenue from sales in the first nine months of Bt28.03 billion, growth of 22 per cent year on year, and representing 9 per cent of SCG’s total revenue from sales. As of September 30, total assets of SCG in Asean were worth Bt63.5 billion, about 15 per cent of the group’s total consolidated assets.
The total assets of SCG as of September 30 amounted to Bt426.5 billion.