The Siam Cement PCL : Siam Cement 3Q Net Profit Falls 13% but Meets Forecasts
Siam Cement PCL’s (SCC.TH) third-quarter net profit fell 13% as higher expenses and cost of sales weighed, but the fall in earnings at Thailand’s largest industrial conglomerate by revenue was in line with analysts’ expectations. Despite the profit decline, the conglomerate said before Wednesday’s earnings statement its board had approved 23.20 billion baht ($754.5 million) worth of investments in the cement and paper businesses in Indonesia, Cambodia and the local market. Siam Cement has aggressively expanded its business in local and overseas markets over the past several years, particularly in members of the Association of Southeast Asian Nations, as it seeks to boost future income and diversify risk across markets…
