SCCC Boasts 44% Growth in 3Q18 Profit from Cost Saving and Int. Sales
SCCC shows 44% growth of profit in 3Q18 and 94% jump in 9 months.
Siam City Cement Public Company Limited (SCCC) has reported its 3Q18 consolidated financial statement through the Stock Exchange of Thailand as follows:
SCCC earned ฿11,792 million of revenue in 3Q18, while 44% YoY growth in net profit was also contributed by continuously harnessing the cost savings.
Domestic cement market recovered with 2% to 3% demand growth during Q3. However, the growth of SCCC net sales was lower due to the shift of production to Cambodia JV which commencing operation at full capacity.
Regional cement markets: The demand growth in South Vietnam market was strong, i.e. at 6% to 8%. SCCC Vietnam reported sales volume growth in line with the market growth.
Sri Lanka: Cement market declined by 3% YoY. Construction market was affected by slow progress of key infrastructure projects, economic slowdown and the depreciation of the Sri Lankan Rupee.
Bangladesh: Cement market grew at 11% YoY from infrastructure projects and residential construction due to higher rate of urbanization. SCCC Bangladesh reported sales volume growth at 35% YoY with good market penetration in premium segment.
The Cambodian JV, cement market grew at double digit and the sales volume of our JV Company already reached 1 million tons.