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[August 2003]
Improved Performance at Siam Cement
The major Thai industrial concern Siam Cement Group, which still includes some ceramic subsidiaries, has reported improved operating performance for the first half of the financial year 2003, citing enhanced operating efficiency in most of its businesses. The group announced an interim dividend payment of 2.5 Baht per share.
President Mr Chumpol NaLamlieng disclosed the unreviewed consolidated financial statements for the company and subsidiaries for the first half of 2003 which showed total sales of 72.543 billion Baht, a considerable rise of 12% from the same period in 2002.
Operating profits for the first half were 8.638 billion Baht, compared with 5.661 billion Baht in the first half of 2002, representing an increase of 53% - a result of higher contributions from associated companies.
In the second quarter of 2003, the company reported operating profits before extraordinary items of 3.510 billion Baht, a performance comparable to that of the same period last year. The Iraq war and the SARS outbreak played their part in this performance. Net profits growth, too, remained relatively flat for the quarter.
Unreviewed total assets of the company and subsidiaries at the half-year amounted to 236.743 billion Baht.
ENDS