Thailand’s Siam Cement 1Q11 earnings to THB8bn

Thailand’s Siam Cement 1Q11 earnings to THB8bn
Published: 14 April 2011

Kim Eng Securities expects Thai conglomerate Siam Cement’s 1Q11 earnings to be strong at THB8bn (+19% QoQ, +17% YoY) with continuing growth.

Over the next 4-5 years (2011-2015), the house notes that SCC earnings will see strong growth at 15-20% driven by higher value added products and more investment.

It expects the company’s cement division to be driven by growth in domestic demand of 5% and higher cement prices, up THB150/t in 4Q10 and THB50/tin 1Q11. Cement earnings will rise to THB2.05bn (+60% QoQ, +7% YoY).