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.