The Siam Cement PCL : Siam Cement 2011 Net Profit Falls 27% To THB27.28 Billion
01/25/2012| 01:12am US/Eastern
Siam Cement PCL (SCC.TH), Thailand's largest industrial conglomerate by revenue, said Wednesday its 2011 net profit fell 27% mainly because of the higher cost of sales, lower income from affiliates, and higher expenses.
The company posted a full-year net profit of THB27.28 billion ($866 million), compared with THB37.38 billion in 2010, according to a filing with the Stock Exchange of Thailand.
Siam Cement's 2011 net profit was slightly lower than the THB28.01 billion average forecast of five analysts surveyed by Dow Jones Newswires.
Sales increased to THB368.58 billion from THB301.32 billion, while the cost of sales rose to THB315.81 billion from THB247.92 billion.
Many Siam Cement plants were temporarily shut down in October and November due to flooding, while others were disrupted by supply chain problems.
-By Bangkok bureau, Dow Jones Newswires; 66 2690 4200; firstname.lastname@example.org