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/