Siam Cement 1Q net profit down 25% on higher costs

Siam Cement 1Q net profit down 25% on higher costs
Published: 30 April 2008

Siam Cement PCL, Thailand’s largest industrial conglomerate, Wednesday reported a 25% fall in the first quarter net profit as rising fuel and raw material costs outpaced an increase in sales.
 
Net profit for the January-March quarter fell to THB7.45bn (US$235m) from THB9.99bn a year earlier, according to the company’s financial statements.
 
A Dow Jones Newswires poll of six analysts had forecast the company to post a net profit of THB6.60bn.
 
The company’s sales rose 20% to THB78.60 billion, while costs of sales surged 29% to THB65bn.
 
Selling expenses in the quarter increased 23% to THB3.62bn.