SCG expects slower 2014 growth on impact of political instability

SCG expects slower 2014 growth on impact of political instability
Published: 31 January 2014


Siam Cement Group (SCG) said it expects cement demand growth in Thailand to decelerate this year compared to the seven per cent advance seen in 2013, due to a slowdown in government infrastructure spending as a result of political unrest.

Consumption has only increased by two per cent since the beginning of this year, versus a six per cent advance in the fourth quarter of last year, Reuters quoted Siam Cement chief executive Kan Trakhulhoon, as saying.

Trakhulhoon has said growth of its domestic sales could be less than five per cent this year, compared with the nine per cent previously forecast.

The company yesterday reported a 19 per cent rise in fourth quarter earnings as a recovery in petrochemical margins outweighed the impact of political unrest on its cement business.