Siam Cement Q3 net profit falls by 13%

Print this page

Thailand: Siam Cement's third-quarter net profit has fallen by 13% to US$201m from US$240m. The conglomerate blamed higher expenses and the cost of sales.

For the quarter ending on 30 September 2012, sales increased by 11% to US$3.39bn from US$3.01bn. The cost of sales rose by 9.1% to US$2.89bn from US$2.65bn. Total expenses grew by 15% to US$305m from US$266m. Contributions from the cement unit rose by 33% to US$2.45bn.

Despite the profit decline, the conglomerate said that its board had approved plans to spend US$358m on a new cement plant in Indonesia and US$179m on an expansion of its cement business in Cambodia. Siam Cement has aggressively expanded its business in local and overseas markets over the past few years, particularly in members of the Association of Southeast Asian Nations, as it seeks to boost future income and diversify risk across markets.

Register for the Global Cement Weekly email newsletter

Global Cement Weekly is Global Cement’s weekly email newsletter. Keep up to date with cement industry news, analysis, diary dates and news of people in the sector.

Register >

URL: https://www.globalcement.com/news/item/1218-siam-cement-q3-net-profit-falls-by-13

© 2022 Pro Global Media Ltd. All rights reserved.