Siam City Cement (SCCC), Thailand’s second-biggest cement maker, reported a 7 percent fall in third-quarter net profit on Wednesday due to higher fuel and electricity prices.
Its quarterly net profit fell to THB1.04bn ($25 million), or THB4.38/share, from THB1.1bn, or THB4.62/share, a year earlier, the company said in a statement. That was in line with an average net profit forecast of THB1.0bn by analysts. Third-quarter revenues rose 7.2 percent to THB5.7bn and sales costs rose 18 per cent to THB3.7bn, its financial statement said.
The company has said it expects cement sales to rise 10 percent to 14.3Mt this year as it aimed to boost exports with demand easing at home due to slowing economic growth and delays in planned mega projects. Domestic cement consumption would rise an annual 8-10 per cent next year, it has said.