Siam Cement reports 57% rise in profit for 3Q20

Thailand’s Siam Cement saw a 57 per cent YoY rise in consolidated net profit to THB9.74bn (US$311.6m) for the third quarter of 2020, with the result attributed to an 80 per cent increase in chemicals profit and increased efficiencies from its cement segment.

However, consolidated revenue declined nine per cent YoY to THB100.94bn due to a fall in chemicals selling prices.

For the first nine months of 2020, profit rose five per cent YoY to THB26.10bn on the back of an improved contribution from its cement-building materials and packaging businesses. Revenue decreased nine per cent YoY to THB302.69bn in the 9M20.