Thailand’s Siam Cement Group (SCG) announced a six per cent YoY rise in sales revenue to THB478.4bn (US$15.3bn) for 2018. However, profit for the year decreased 19 per cent from the year-ago period to THB44.74bn due to global economic uncertainties, according to the company.

In the company’s Cement-Building Materials segment, revenue increased four per cent YoY to THB182.9bn in the FY18. Profit for the year finished at THB5.98bn, falling seven per cent from 2017 mainly due to asset impairments in the 3Q18.

"The company expects domestic demand for cement will increase 3-5 per cent from last year because of the construction and real estate sectors expanding following government investments," said Roongrote Rangsiyopash, CEO, SCG.

The company has also improved its investment budget for 2019 by 23 per cent to THB60bn from THB46bn last year.

"We are focusing on an M&A of a packaging and cement-building materials business in ASEAN," said Mr Rangsiyopash.