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[May 2003]
Profit Leap for Siam Cement
Siam Cement Group - which includes Cementhai and the Siam and Cotto ceramic brands - has announced what it described as an "outstanding performance" for the first quarter of 2003, and cited continued solid performances in all of its strategic business units.Siam Cement PLC President Mr Chumbol NaLamlieng said unreviewed consolidated financial statements showed total sales of 36.498 billion Baht. This represents an 18% increase from the same period of the previous year.
The Group reported operating profit of 5.128 billion Baht, an increase of 137% from Q1 2002, due to higher sales volume and prices, reduced interest expenses and higher equity income from associated companies.
Net profit for the Group was 5.533 billion Baht. This year's first quarter net profit included 405 million Baht in extraordinary gain, primarily from the sale of land banks.
Unreviewed total consolidated assets of the company and subsidiaries as of 31 March 2003 amounted to 243.854 billion Baht, an increase of 8.210 billion Baht from 31 December 2002.
ENDS