Siam Cement Group releases results for Philippine operations

Thailand’s Siam Cement Group has reported a 39 per cent YoY decline in revenue to PHP5.34bn (US$109.7m) from its Philippine operations for the first half of the year, on the back of a weak performance in its building materials business, reports The Philippine Star.

In the 2Q20, the company’s local operations posted a 53 per cent decrease in revenue to PHP2bn.

The news follows the release of SCG’s overall results last week, which saw a 33 per cent YoY rise in profit for the second quarter.