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| Siam Cement reports operating results for Q2/2007 and H1/2007 Siam Cement Group (SCG) announces lower year-on-year consolidated operating performance of the second quarter and the first six months of fiscal 2007. SCG disclosed the unreviewed consolidated financial statements for the second quarter of fiscal year 2007, which showed total sales of 63,612 MB, relatively flat y-o-y. Net profit registered 8,815 MB, representing an increase of 16% y-o-y and assisted by the 2,448 MB after tax non-recurring gains from the divestment of shares in Siam Yamato Steel Co., Ltd. (from 45% to 10%) and The Aromatics (Thailand) PCL (ATC) (from 8% to 5%). Operating profit decreased 14% y-o-y to 6,367 MB, and is attributed to higher naphtha price, appreciation of the Thai Baht, and the slow-down in the domestic economy, which has adversely affected the cement, building materials, distribution and paper businesses. For the first half of 2007, SCG recorded total sales of 128,949 MB, relatively flat y-o-y. Net profit registered 17,028 MB, representing a drop of 1% y-o-y. Operating profit decreased a 13% y-o-y to 14,490 MB. The total assets of SCG as of June 30, 2007 amounted to 241,639 MB. The board of directors of SCG has approved an interim H1/07 dividend payment of 7.50 Bt/Sh, amounting to 9,000 MB or 53% of the H1/07 consolidated net profit, and is payable on Aug 22/07. write your comments about the article :: © 2007 Construction News :: home page |