Siam City Cement Public Company Limited (SCCC) has reported its 1Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:
SCCC recorded a net profit in the first quarter of 2019 at THB 1,104 million, increased 32.62% YoY.
Net sales grew 9% driven by solid performance in the domestic markets offset partially by weakened performance of overseas businesses. Thailand’s cement market demand exhibited positive signs of recovery which resulted in good growth of domestic sales volumes.
Ready-mix concrete, aggregate and other construction materials businesses generated net sales improvements from higher construction activities during the period. Key overseas markets, however, in Vietnam and Sri Lanka encountered weak demand which unfavorably impacted overall net sales.
The international trading business benefited from the continued clinker supply shortage situation in China and the growth of trading activities of cement, clinker, mineral components and solid fuel trading around the Asia Pacific region.
Lower energy costs as well as several operational excellence initiatives brought down overall production and fixed costs. Overseas businesses, on the other hand, experienced increased cost for imported raw material due to a tightening supply situation which offset the achievements in cost optimizations.