Despite political uncertainty, the Siam Cement Group remains confident of achieving its revenue growth target of 10 per cent this year, The Nation reports. This is thanks to higher paper prices and continued momentum in chemical products.
President and CEO of the company, Kan Trakulhoon on April 28 said first quarter revenue increased 24 per cent YoY on increased sales volumes of subsidiaries SCG Paper and SCG Building Material and improved income contributions from SCG Chemicals’ associates.
Although the political turbulence blunted sales of cement and building materials in the quarter, the trend of paper prices is up, he said.
Speaking of the cement and building materials segments, he said: “SCG will keep an eye on the political effects on our building materials business over the next two quarters because the problem has hit consumer confidence and investment from abroad,” Kan said.
“However, we’ve seen that demand upcountry for cement and building materials is going very well, thanks to the government’s budget disbursement since the first quarter. First-quarter sales volumes for cement grew eight per cent, while net sales of the product increased four per cent. So we’re still confident full-year cement sales will grow five per cent as expected.”