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Siam Cement Reports Rise in Third-Quarter Profits

4:28 AM MDT | October 28, 2009 | Deepti Ramesh

Siam Cement Group (SCG; Bangkok) reported an 18% rise in net profits, to about baht7 billion ($209 million) for the third quarter, compared with the year-ago period. Sales deceased 19%, to about baht64.5 billion, mainly due to lower product prices. The net profits increased as a result of better financial performance by most of the businesses, particularly the paper and chemicals businesses, SCG says. SCG Chemicals, the chemical subsidiary of SCG, reported a 39% increase in net profits for the third quarter, to baht4.2 billion, compared with the year-ago period...

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