The Siam Cement Group (SCG) announced the operating performance for the second quarter and first six months of 2006, citing increase sales, particularly shown in chemicals business, while net profit decreases due to energy cost and the slow down in domestic demand of cement and building products. However, the company proposes an interim dividend payment of 7.50 baht per share.
Mr. Kan Trakulhoon, President of The Siam Cement Public Company Limited (SCC), disclosed the unreviewed consolidated financial statements for SCC and subsidiaries for the second quarter of 2006 which showed total sales of 63,754 million baht, representing an increase of 19% y-o-y due to higher chemicals products’ prices. Meanwhile, the company recorded net profit at 7,632 million baht, dropped 13% y-o-y due to energy and production costs as well as the slow down in domestic demand of cement and building products.
The Cement Business recorded total sales of 10,818 million baht, an increase of 9% y-o-y assisted by higher export price. However operating profit has decreased 24% due to the increased cost of fuel and electricity and the decrease in domestic demand.