SCG posts strong revenue growth

Sok Chan / Khmer Times No Comments Share:
SCG earned $396 million from its operations in Cambodia in 2018. Reuters

SCG Cambodia, a subsidiary of the Siam Cement Group, yesterday announced that revenue from sales in 2018 grew by 15 percent, rising to $396 million.

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Revenue from sales in Q4 2018 reached $96 million, SCG Cambodia said.

Parent company SCG, Southeast Asia’s largest and oldest cement and building material company, also published its financial results.

SCG President Roongrote Rangsiyopash said in a statement disclosing the company’s unaudited operating results for 2018 that revenue from sales rose by 6 percent year-on-year, reaching $14,808 million.

Profit equalled $1,385 million, a 19 percent drop year-on-year stemming from global economic uncertainties, including “trade war, volatile oil market, and a strengthening Thai baht, which affected the overall performance of SCG.”

Revenue from sales of high value-added products and services reached $5.725 billion, an increase of 5 percent, accounting for 39 percent of total revenue from sales. Spending on innovation, research and development, meanwhile, totalled $145 million, or 1 percent of total revenue from sales.

Revenue from sales in Q4 2018 dropped by 4 percent quarter-on-quarter due to lower chemical product prices, but increased 3 percent year-on-year from a greater volume of chemicals sales as well as growth in the cement and building materials business in Thailand.

“In 2019, SCG will continue to focus on two key strategies,” Mr Rangsiyopash said. “One is stability, which the company has maintained continuously and acted promptly to cope with recent global economic volatility, resulting in overall profitability ratios of 9 percent, a considerably strong figure compared to the overall industry performance.”

The second strategy, he said, is long-term growth management.

“In addition to heightening the development of innovative high value-added products and services to raise living standards and build a sustainable business growth, this year, SCG will focus on delivering solutions to more adequately fulfill customer needs.

“SCG will continue to expand opportunities to export innovative products and services following up on the global market direction to meet the consumer needs,” he added.

He said SCG will accelerate investment projects to generate growth in growing Asean markets and emerging economies. These projects include chemical exports to the Chinese market as well as retail and logistics operations in the region.

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