Bangkok--1 Nov--SiamCity Cement
SiamCity Cement Public Company Limited announced itsnine-monthperformanceto the Stock Exchange of Thailand with net sales growth of12.7 percent y-o-y at 22,565 million baht compared to 20,029 million baht in 2012.Consolidated net profit attributable to equity holdersposted a significantincreaseof 40.4 percenty-o-y to 4,044 million bahtfrom 2,880 million baht in 2012. Earnings per share for this period improved to 17.58 baht as compared to 12.52 baht for the same period in 2012.
Solid demand continues for domestic cement and other construction material businesses due to on-going infrastructure projects, commercial construction activities and real estate sector development. Net sales growth was also supported by highercement prices on both domesticand border markets and by the revenues generated from capacity expansion in various businesses.
Production coststrended higher due torisingwages, as well as increased electricity rates and transportation costs. Thanks to favorable coal prices and savings from multiple energy related projects, the overall cost escalation could still be mitigated. Consequently, the operating profit margin improved to21.8percent in9 months of 2013 compared to17.4 percent for the same period of 2012.
In terms of outlook, cement consumption has tapered in Q3, butis forecastto pick up in the latter part of the 4th quarter. The company expects the positive demand trend to continue into 2014.
In regards to SCCC’s social responsibility, the INSEE Integrated Green School project has gathered full momentum, as students from King Mongkut Institute of Technology in Bangkok and from College of Architecture & College of Engineering, Chiang Mai University, joined hands to help construct a building at Border Patrol Police Ban NongKhaem School in Chiang Dao District of Chiang Mai.
On September 11, 2013, Siam City Cement became the first Thai cement company to receive CSR-DIW Advance Level 5 award from the Ministry of Industry.