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News Siam Cement Group shares first quarter 2020 results

Siam Cement Group shares first quarter 2020 results

Written by 01 May 2020
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Thailand: Siam Cement Group (SCG) recorded a profit of US$215m in the first three months of 2020, down by 40% year-on-year from US$358m in the corresponding period of 2019. Sales were US$3.23bn, down by 6.0% from US$3.44bn.

On 30 April 2020 SCG withdrew its sales forecast for 2020 and reduced its budget for the year to US$1.85bn, down by 14% from US$2.15bn. SCG president and CEO Roongrote Rangsiyopash said, “SCG cannot give a figure for revenue this year because we don't know yet how long the COVID-19 outbreak will last and how much it will affect the economy.” Rangsiyopash said that SCG is ‘prepared to cut its investment even more’ in a worst-case scenario.

Last modified on 01 June 2020
Published in Global Cement News
Tagged under
  • Thailand
  • Siam Cement
  • Results
  • Profit
  • Sales
  • Budget
  • economy
  • GCW454

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