Siam Cement: strong Baht has minimal impact on earnings

Siam Cement: strong Baht has minimal impact on earnings
Published: 18 October 2010

Siam Cement PCL, Thailand’s largest industrial conglomerate by sales, said Monday that the surging baht will have minimal impact on earnings.

President Kan Trakulhoon reiterated earlier statements that the company’s profit will fall by less than THB700m (US$23.5m) for every THB1 the local currency gains against the U.S. dollar.

He said the impact of the strong baht is cushioned by the fact the company imports a lot of raw materials, particularly petrochemical products.