Siam City Cement braces itself for 4Q11 impact

Siam City Cement braces itself for 4Q11 impact
Published: 05 December 2011

Thailand’s Siam City Cement Plc (SCCC) predicts its 4Q 2011 financial results would be low, as the floods situation prevailing in the country has reduced the cement demand and disrupted land transport and port operations.

Many of the ready-mixed concrete plant are temporarily shut down, because of flooding or the unavailability of raw materials. SCCC posted 49% increase in net profit at THB868m with 21% higher consolidated revenue at THB6.11bn in 3Q 2011.

According to the Office of Industrial Economics, the statistics show that cement consumption in Thailand grew 4% to 21Mt for first nine months of 2011.