Siam Cement sees '08 profit margin down on high oil

BANGKOK, July 23 (Reuters) - Siam Cement PCL SCC.BK (SCC), Thailand's biggest industrial conglomerate, said on Wednesday it expected its average profit margin to fall this year due to rising oil prices.

"Revenues should meet our target this year but the profit margin should fall," Kan Trakulhoon told reporters, adding the company was working to control its costs. ($1=33.36 Baht) (Reporting by Pisit Changplayngam; Writing by Viparat Jantraprap; Editing by Darren Schuettler)