SCG reports 53% increase in 3Q net profit

Thailand's largest industrial conglomerate, Siam Cement Group, reported a 53 per cent increase in third-quarter net profit while its cement and building materials division showing the highest rise in revenue.

Net profit for the quarter totalled THB9.79bn (US$309.77m) which the company attributed to the continued recovery of chemicals margins and volume, growth in the domestic cement demand, as well as a non-recurring gain of THB1.7bn.

In the quarter, combined revenue rose nine per cent from the same period last year to THB113.86bn. Thanks to domestic demand, SCG Cement-Building Materials business showed the highest increase at 15 per cent to THB45.6bn.

In the first nine months of the year, the company's net profit rose by 71 per cent YoY to THB28.5bn.