Siam City to 2010 net profit down, Thailand

Siam City to 2010 net profit down, Thailand
Published: 11 February 2011

Thailand’s Siam City Cement PCL Thursday reported an 8.5% fall in 2010 net profit mainly due to higher costs, including distribution expenses.

The company posted net profit of THB2.70bn (US$87.8m) in the year ended December 31, down from THB2.95bn in 2009, according to financial statements filed to the Stock Exchange of Thailand.

Sales revenue rose to THB20.98bn from THB19.9bn, while the cost of sales rose to THB12.11bn from THB11.27bn. Sales and distribution expenses rose to THB4.29bn from THB3.84bn.

Siam City Cement said Friday that it will pay an interim dividend of THB5 per share for its second-half operations. The dividend will be paid on May 20 to shareholders on record as of March 7, the company said in a statement to the Stock Exchange of Thailand.