Thai Siam Cement 2Q net profit up slightly

Thai Siam Cement 2Q net profit up slightly
Published: 27 July 2011

Siam Cement Pcl (SCC) Thailand’s biggest industrial conglomerate, posted a 2.8 per cent rise in quarterly net profit on Wednesday, thanks to rising sales and the improved performance of its paper business.

The company reported an April-June net profit of THB7.5bn (US$252.7m), or THB6.25/share, up from THB7.29bn a year earlier but lower than the THB9.2bn in the first quarter.

Siam Cement operates five major businesses – cement, petrochemicals, paper and packaging, building products and distribution.

Analysts expect Siam Cement’s earnings to improve in the second half of 2011 because of rising spreads and the high season for petrochemicals in the third quarter, coupled with new capacity.