Siam Cement’s Chemicals Business Reports Fall in Profits

SCG Chemicals, the chemical subsidiary of Siam Cement Group (SCG; Bangkok) recorded a 51% fall in profits for 2011, compared with 2010, to baht11.19 billion ($354 million). Sales for 2011 increased 34%, compared with the previous year, to baht192.9 billion, due to higher volumes and selling prices, the company says. Quarterly figures were not disclosed. The fall in profits was due to the non-recurring gain of baht9.9 billion from divestment of shares in PTT Chemical (Bangkok) in 2010, SCG says. SCG says that it has also decided to further increase its stake in...

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