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3Q profit down 6.2% at Siam Cement

World Cement,

Siam Cement, Thailand, reported a 6.2% drop in its 3Q profits, as a result of decreased profits from cement and petrochemicals revenue. The company posted a net profit of 6.56 billion baht over the quarter ending 30 September, compared to 6.99 billion baht over the same period last year. According to Thompson Reuters, before results were announced, Siam Cement’s net profit over the whole of 2010 was expected to increase by 10.3% to 26.8 billion baht.

A continuation of this trend is expected in the final quarter of this year, but with new capacities coming online, growth can be expected next year.

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