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Siam Cement sees higher H2 profit, keeps 2012 sales target
July 25, 2012 / 8:19 AM / 5 years ago

Siam Cement sees higher H2 profit, keeps 2012 sales target

BANGKOK, July 25 (Reuters) - Siam Cement Pcl, Thailand's top industrial conglomerate, said on Wedneday it expected net profit in the second half to be higher than the first half due to improved margins in its petrochemical business.

Siam Cement, which reported a 39 percent fall in first-half net profit to 10 billion baht, maintained its 2012 sales target of more than 400 billion baht, Chief Executive Kan Trakulhoon told reporters.

The company aimed to invest 10 billion baht in three projects in Myanmar, including a power plant, a cement plant and logistics operations, Kan said.

Thailand's sixth-largest company reported a 43 percent fall in quarterly profit, in line with expectations, due to weak demand and a drop in the value of its petrochemical inventories.

Reporting by Pisit Changplayngam; Writing by Khettiya Jittapong

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