Siam Cement's Q3 earnings up 53%
Play
Siam Cement Group, Thailand's largest industrial conglomerate, showed a 53 per cent increase in the reviewed third-quarter net profit, to Bt9.79 billion.
The reviewed figures present no change from the unreviewed statements revealed last week.
It attributed the increase to the continued recovery of chemicals margins and volume, growths in the domestic cement demand, as well as the non-recurring gain of Bt1.7 billion (Bt1.5 billion from the fair investment value adjustment of sanitary ware and fittings assets, and Bt174 million from the sale of assets to TOTO).
In the quarter, combined revenue rose 9 per cent from the same period last year to Bt113.86 billion. Thanks to domestic demand, SCG Cement-Building Materials business showed the highest increase, at 15 per cent to Bt45.6 billion. Trailing behind are SCG Chemicals, 7 per cent; and SCG Paper, 2 per cent.
In the first nine months, the net profit rose by 71 per cent from the same period last year to Bt28.5 billion.
