Siam Cement Q3 profit surges on petrochemicals
Published by Joseph Green,
Editor
World Cement,
According to the latest Reuters report, Siam Cement has announced that Q3 net profit grew a 57% as weakness in its cement business was offset by strong performance at its petrochemicals unit.
Thailand's largest industrial conglomerate posted a net profit of 14.1 billion baht (US$403 million) for July-September, surpassing an average forecast of 13.3 billion baht.
However, profit was down 12% from the previous quarter on a lack of dividend payouts from its investments and a slowdown in cement demand during the rainy season.
Profit from the cement and building materials segment fell 19% in Q3 as domestic cement demand dropped 5% due to lower offtake from non-government sectors.
Read the article online at: https://www.worldcement.com/asia-pacific-rim/27102016/siam-cement-q3-profit-surges-on-petrochemicals/
You might also like
The World Cement Podcast
In this special joint episode of the World Cement Podcast, and Cementing Europe’s future, the podcast of CEMBUREAU, David Bizley and Koen Coppenholle take a deep dive into the Clean Industrial Deal and a discussion of what it means for the European cement industry.
Listen for free today at www.worldcement.com/podcasts or subscribe and review on your favourite podcast app.
FLSmidth signs agreement to divest its Cement business
FLSmidth signs agreement to divest its Cement business to become a pure-play supplier of technology and services to the mining industry.
