Siam City Cement sees no sales growth
Siam City Cement PCL , Thailand’s second-biggest cement maker, said on Tuesday it expected no growth in sales this year due to weak domestic economic expansion. Previously, the company had expected to sell five per cent more cement this year, Chantana Sukumanont, executive vice president for marketing and sales, told reporters. "We have revised down our sales forecast this year. It should be no growth from last year’s 12Mt.”
Chantana also said SCCC, whose major competitors are market leader Siam Cement PCL and number three TPI Polene PCL , would be affected by high fuel prices and fierce competition in the domestic market. SCCC reported a seven per cent drop in net profit in the first quarter due to the impact of domestic political turmoil, but the firm expected higher sales in the second quarter than in the first three months, Chantana said without elaborating.
Published under Cement News
