Siam Cement Group (SCG), Thailand’s largest conglomerate, achieved a significant growth in sales revenue during the first nine months of the year, though it experience a slight decline in profit.
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According to a financial report released Wednesday, revenue from sales in the Cambodian market amounted to $98 million, an increase of 17 percent, mostly due to growing demand for building materials.
“SCG’s operating results for the third quarter of the year and the first 9 months of 2018 show an increase in revenue in all business units due to improved overall market conditions, higher demand for cement and building materials and foreign investment projects by public and private sectors,” said Mr Roongrote Rangsiyopash, SCG president and CEO.
However, he said profit was down due to the higher cost of raw materials and electricity, coupled with the impairments of several assets and a slowdown in global trade.
The report also highlights the launch in Phnom Penh of the first SCG Roofing Solution Centre, an all-in-one service point where homeowners and developers can start to design their properties, choose materials, and, through expert consulting, find the right contractor for their roofing needs.
SCG plans to expand the centre’s service to other main cities in the country next year.