BANGKOK Jan 30 Thailand's Siam Cement PCL
reported a 19 percent rise in fourth-quarter earnings
on Thursday, beating forecasts, as a recovery in petrochemical
margins outweighed the impact of domestic political unrest on
the company's cement business.
Net profit for the company, whose results are widely seen as
a barometer of Thailand's corporate health, was 8.2 billion
baht ($249 million) for the October-December quarter, up from
6.91 billion baht a year earlier and the 6.6 billion baht
estimate of nine analysts polled by Reuters.
The petrochemicals unit accounts for about 27 percent of the
company's profit. Earnings before interest, taxes, depreciation
and amortisation (EBITDA) from the unit was up 198 percent in
the quarter, compared to a 27 percent increase from the cement
business, the company statement showed.
Siam Cement, Southeast Asia's second-largest cement maker,
also posted a 56 percent year-on-year increase in its 2013 net
profit to 36.7 billion baht, thanks to recovery of chemical
margins and higher domestic demand of cement products.
(Reporting by Khettiya Jittapong; Editing by Miral Fahmy)