Siam Cement to post record 1Q profit

Sharp rises in petrochemical margins and continued growth in cement demand should boost the first quarter net profit of Thailand’s largest industrial conglomerate Siam Cement PCL (SCC.TH) to a record high.  

Siam Cement should also benefit from continued growth of the economy as its core products rely heavily on local consumption, analysts said. The government has set an economic growth target this year of 7-8 per cent.

"We expect a record high profit for Siam Cement in the first quarter, due to sharp rises in petrochemical margins and continued growth of cement demand," Paworamon Suvarnatemee, an analyst at ING Securities (Thailand), said in a recent research note.