Siam Cement’s net profit grows to B7 bln in Q3 despite sales decrease
Siam Cement Plc (SCC) on Wednesday announced a consolidated net profit of 6.99 billion baht in the third quarter of this year, an increase of 18 percent from the same period last year, despite a 19 percent drop in net sales.
According to its report to the Stock Exchange of Thailand, SCC, the country’s leading industrial conglomerate, said the net profit of 6.99 billion baht rose slightly by two percent from the second quarter of this year while the earnings before interest, tax, depreciation and amortisation (EBITDA) in the third quarter was flat at 12.8 million baht when compared with the previous quarter.
The company said the third quarter’s net profit came from the net sales of 64.5 billion baht, which dropped 19 percent from the same period last year but grew 13 percent from the previous quarter.
For the period of nine months this year, the company’s net sales dropped by 26 percent, when compared with the same period last year, to 176.63 billion baht while its net profit totaled at 19 billion baht, a decreased of six percent from the same period last year, as a result from lower equity income from chemicals associates and the drop in earnings from its paper business in the first quarter of this year.
The company’s total assets, as of the end of last month, have been reported to be 304.07 billion baht, representing an increase of 18.29 billion baht from the end of last year.
Siam Cement Group (SCG) comprises over 100 companies under five business groups of paper, cement, building materials, and distribution, including the subsidiaries in the Philippines, Indonesia, Cambodia and Laos.
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