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| Siam Cement announces decreased profitability for FY2008 Siam Cement Group (SCG), Thailand's top industrial conglomerate, announced decreased profitability for FY2008 due to effects of the global economic slowdown, in addition to the stock losses in the forth quarter. The group, however, remains optimistic about its ability to cope with the current economic crisis, citing its strong financial position, increased liquidity, continued development of its high-value product and service, cost competitiveness, and the expanded overseas market position. Mr. Kan Trakulhoon, President and CEO of SCG, announced the unaudited consolidated financial statements for SCG and its subsidiaries for fiscal year 2008, which showed Total Sales of 293,230 MB, an increase of 10% y-o-y. However, net profit decreased 45% y-o-y to 16,771 MB. In the forth quarter of 2008, SCG reported Total Sales of 55, 062 MB, a 21% decrease y-o-y. The Net loss was 3, 480 MB due to stock losses of approximately 5, 000 MB. write your comments about the article :: © 2009 Construction News :: home page |