Business News

Jan 28, 2009, 9:36 GMT

Siam Cement's net profit falls by 45 per cent

Bangkok - The Siam Cement Group, Thailand's leading industrial conglomerate, announced a 45 per cent drop in net profit for 2008, blamed largely on the global slowdown. Total sales for SCG and its subsidiaries reached 293.2 billion baht (8.6 billion dollars), up 10 per cent year-on-year, but net profit fell 45 per cent 16.8 billion baht (494 million), president and chief executive officer Kan Trakulhoon said. Kan blamed the dramatic drop in profits on the slowdown of the global economy, which resulted in a sharp decline for its exports of petrochemicals, lower margins and stock losses. In the fourth quarter of 2008, the firm reported total sales of 55.1 billion baht, a 21 per cent decrease year on year, and a net loss of 3.5 billion baht, Kan said. Siam Cement Group is Thailand's leading industrial conglomerate, with diverse operations in cement, construction materials, chemicals, pulp and paper. The main shareholder in the group is the Crown Property Bureau, the investment arm of the monarchy.

And Also

Look Back at the Worst Celebrity Breakups

Look Back at the Worst Celebrity Breakups - PopEater
GASP: Goldstriker creates world's most expensive iPhone - The Tech Herald
The Jay Leno Show Finds Its Ratings Level - Cinema Blend
Guide to Avoiding Red Carpet Faux Pas - PopEater
A&E series 'Hoarders' and 'Intervention' premiere Monday, Nov. 30th, preview

Your Talkback on this Story

Similar articles

Thai-based electronics manufacturers start rehiring workers
Bioplastics giant shortlists Thailand for first Asian plant
Price fluctuations shut down Chinatown gold shops in Bangkok
Thai electronics maker delays 50 million dollar India investment
Business closures up 22 per cent in Thailand

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Latest Pics

From Sites we Like

Photoshop this rocket man [Photoshop]
New screening system put in place to ease the number of calls received by the Department of Children and Families hotline manages to prevent calls regarding sexual abuse, neglect, and attempted murder [Florida]
Just another night in Iowa - the corn growin', the birds chirpin', the naked drunken biatch ramming her SUV into as many cars as can find [Interesting]

More Not News from Fark

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills; Celebrity Video; Music Video
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2009 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint