Siam Cement 1Q beats forecasts, Thailand

Siam Cement 1Q beats forecasts, Thailand
Published: 28 April 2010

Siam Cement posted a 32 per cent rise in quarterly net profit on Wednesday after the economic recovery pushed up revenue and petrochemical spreads improved.

The company, which earns up to half of its profits from petrochemicals, reported a January-March net profit of THB6.86bn (US$212.7m), up from THB5.2bn a year earlier.

The profit was above the THB6.58bn forecast by six analysts polled by Reuters.

Siam Cement had posted a THB5.3bn profit in the 4Q09, turning round from a loss a year earlier thanks to the absence of inventory losses and better earnings from its cement and paper units.

Source: Reuters