Siam Cement, Thailand's biggest industrial conglomerate, expects a strong 2004 with domestic cement demand "outstanding" as the country's economy grows apace, a senior executive said.
Kan Trakulhoon, vice president for finance, told reporters late on Thursday domestic cement demand was expected to grow an annual 10 per cent next year and that should boost SCC's sales by the same rate. "Our profit this year will be better than last year. Next year it will keep rising as well because of strong demand from our core businesses," Kan said without giving a specific profit forecast. SCC, seen as a gauge of Thai corporate health because of its diverse interests, had a net profit of 14 billion baht ($351m) in the first nine months of 2003. It made a 14.7 billion baht profit in 2002.