SCCC witnesses strong growth in 2013

Byzhangli

Updated Mon, 17 Feb 2014 00:00:00 GMT

Siam City Cement Public Company Limited has announced its results for 2013, reporting strong business growth for the year.

Results for 2013

The company witnessed a net sales growth of 13.3% y/y, which totalled THB29 950 million baht in 2013 compared to THB26 427 million baht in 2012.

Consolidated net profit attributable to equity holders rose by 31.9% y/y to THB4796 million baht from THB3637 million baht in 2012.

Earnings per share for the year improved to THB20.9 baht against THB15.8 baht in 2012.

The Board of Directors will propose a dividend payment of THB15 baht per share at the 21st Annual General Meeting of Shareholders.

The company's good performance was attributed to solid demand for cement and other building materials as a result of ongoing infrastructure projects, commercial construction activities and real estate sector development. Despite increases in the electricity tariff rate, maintenance costs and minimum wage driven escalation, improved selling prices and favorable coal prices throughout the year resulted an improvement in the operating profit margin, which stood at 20% in 2013 compared to 16.7% in 2012.

4Q results and 2014 outlook

SCCC witnessed flat volume in the fourth quarter of the last fiscal year, both q/q and y/y. The company anticipates that the Thai construction industry may not experience growth in 2014 as a result of delays in large-scale infrastructure projects and private investments.