Siam Cement 2Q Net Profit

Siam Cement 2Q Net Profit
Published: 28 July 2004

Siam Cement PCL said its net profit in the second quarter hit a record high, thanks to hefty gains from its affiliates.  In the April-June quarter, Siam Cement recorded a net profit of THB7.74 billion, more than double from THB3.58 billion a year earlier and up from THB7.36 billion in the previous quarter, the company said in a filing to the Stock Exchange of Thailand.  The earnings were well above the THB6.50 billion consensus forecast of analysts polled by Dow Jones Newswires.  Analysts said rising domestic consumption of cement, higher petrochemical prices and gains from its petrochemical affiliates contributed to the sharp increase in Siam Cement’s earnings.