Thailand’s top industrial conglomerate, Siam Cement Pcl, said on Thursday it expected double-digit growth in sales in 2012 to more than THB400bn (US$13bn) due to post-flood demand for cement and building materials.
Siam Cement expected sales to increase almost 20 percent this year although the fourth quarter would be hit by the flooding, Chief Executive Kan Trakulhoon told reporters.
"It should be double-digit growth next year because of rising demand for building materials. We should get around THB360bn this year and it should be more than THB400bn next year," Kan said.
His forecasts were in line with market expectation. The firm is expected to post revenue of THB368bn for 2011 and THB403bn for 2012, according to Thomson Reuters I/B/E/S.
Flooding in central provinces, which forced the Siam Cement group to temporarily shut down operations at 12 plants, should drag sales down 20 percent in the fourth quarter, when net profit is expected to be lower than a year earlier, he said.
"We expect strong demand for restoration from house and business sectors next year," he said, adding most of its affected plants should resume production by the first quarter of 2012.