Siam Cement Plc reports 3Q earnings

Siam Cement Plc reports 3Q earnings
Published: 14 November 2008

Siam Cement Plc’s third-quarter net profit dropped 21 per cent YoY to Bt5.94bn, The Nation reports.

Though, the company said that in the same quarter last year, the net profit of Bt7.5 billion included the extra gain of THB1.9bn from asset sales. Without the extra gain, last year’s quarter net profit would be 6 per cent lower than this year’s level.

In the filing to the Stock Exchange of Thailand, SCC said its net sale revenue totalled Bt79.3 billion, up 15 per cent from the same period last year due to higher sale volume. Its EBITDA also increased 3 per cent year on year to Bt11.9 billion due mainly to the high productivity of the paper busines and lower energy costs in the cement business.

Compared to the second quarter, the third-quarter net profit dropped 17 per cent, due chiefly to the poor performance of the petrochemical industry as well as lower dividends from affiliated companies.