Thailand's SCG Q2 petchem profit more than doubles year on year

07 August 2013 13:31  [Source: ICIS news]

SINGAPORE (ICIS)--Siam Cement Group more than doubled its second-quarter net profit year on year to Thai baht (Bt) 9.92bn ($310m), backed by a strong performance in its chemicals business, the Thailand conglomerate said on Wednesday.

Overall sales in the three months ending June 2013 increased by 6% year on year to Bt106.5bn on higher sales volumes of domestic cement and chemical products, the company said in a statement.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the June quarter were up by 42% year on year to Bt17.3bn, it said.

Its chemicals segment generated a profit of Bt2.64bn in the second quarter, increasing from a loss of Bt1.00bn last year because of strong sales volumes and margins, SCG said.

For the first half of 2013, the company’s net profit jumped by 83% year on year to Bt18.7bn, with sales rising by 6% to Bt216.0bn, SCG said.

Its chemicals segment had a net profit of Bt5.27bn in the six-month period, it said.

($1 = Bt31.40)

By: Pearl Bantillo
+65 6780 4359

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