Siam City Cement PCL, Thailand’s second largest cement producer, Friday reported flat earnings growth in the second quarter as rising sales costs offset higher revenue. During the April to June period, its net profit was 950.2 million baht ($1=THB41.502), or THB3.92 a share, compared with THB953.9 million, or THB3.82 a share, a year ago. The result was slightly lower than expected. Siam City Securities forecast Siam City Cement to report a net profit in the second quarter of THB997 million.
Increasing cement demand boosted its total revenue in the period to THB4.89 billion, up from THB4.49 billion in the same period last year. However, higher costs of goods sold limited the earnings growth. Its costs of sales was THB2.92 billion in the second quarter, compared with THB2.76 billion last year.