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Siam Cement Q3 profit surges on petrochemicals

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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.

Siam Cement Q3 profit surges on petrochemicals

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.

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