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
World Cement Podcast
In the latest episode of the World Cement Podcast, Senior Editor David Bizley is joined by Dr Andrew Minson of the GCCA to discuss the ins and outs of the recently launched Low Carbon Ratings (LCR) system.
CRH announce first quarter 2025 results
CRH announce good start to the year despite unfavourable weather in the seasonally least significant quarter.
