Siam City Cement sees hope for cement in global economic recovery

Byswb

Updated 2009-11-19

Siam City Cement has issued a statement reflecting its optimism for the rebound in fortunes in the cement industry in the coming times.

"The economy has bottomed out, and the overall industry sector is recovering." The company said in its statement.

A spurt in consumer spending, accelerated by an improvement in world economy, has led to an increase of 3 per cent year on year in the third quarter in the demand for cement.

However, the first three quarters of this year witnessed a decrease in cement demand in the first nine months by about 6 per cent year on year, largely attributed to a huge drop in cement consumption in the first half of the year.

Siam City Cement in the third quarter posted the 18.3 per cent operating profit margin, up from 17.5 percent on year. Consolidated net income was Bt742 million, compared to Bt715 million.

Siam City Cement Public Company Limited and its subsidiaries engage in the manufacture and sale of cement in Thailand.

The company's products include Mansonry, blended, Portland, Portland Pozzolan, and sulfate and choride resising cement. It also manufactures ready-mixed concrete and aggregates.

Our most popular news