Thailand’s Siam Cement 1Q11 earnings to THB8bn

Thailand’s Siam Cement 1Q11 earnings to THB8bn
14 April 2011


Kim Eng Securities expects Thai conglomerate Siam Cement’s 1Q11 earnings to be strong at THB8bn (+19% QoQ, +17% YoY) with continuing growth.

Over the next 4-5 years (2011-2015), the house notes that SCC earnings will see strong growth at 15-20% driven by higher value added products and more investment.

It expects the company’s cement division to be driven by growth in domestic demand of 5% and higher cement prices, up THB150/t in 4Q10 and THB50/tin 1Q11. Cement earnings will rise to THB2.05bn (+60% QoQ, +7% YoY).
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