Siam Cement forecast remains impressive

Siam Cement forecast remains impressive
Published: 25 April 2005

Siam Cement prospects remain bright this year, although softer than last year due to (1) expected cement demand in double digits driven by infrastructure projects, (2) petrochemicals that will continue to enjoy high prices this year, especially in the first half. In the fourth quarter, prices will be somewhat effected by a 4-6 week maintenance shutdown and (3) the paper business is expected to be driven by greater efficiency in new subsidiaries. 2005 sales is expected at Bt197,111mn, up 2.5% and compared with management estimates of 10% and a normalised profit of Bt32,429mn (EPS Bt27.02) down 4%, but still very impressive.