No Foreign-Exchange Losses Help Lift Quarterly Profit for Thailand Cement Firm.

Nov. 1--Increased cement sales, a strongly performing pulp and paper business and gains from divestments sent Siam Cement Plc's (SCC) consolidated net profit in the third quarter up to 1.38 billion baht, compared with a net loss of 591 million in the same period last year.

Profit for the first three quarters of the year was 6.62 billion baht, compared with 735 million baht a year ago.

Although the country's largest industrial conglomerate enjoyed a profit in the third quarter, president Chumpol NaLamlieng said consolidated revenue from SCC and its subsidiaries fell year-on-year by 5 percent to 31.97 billion baht. He cited lower sales of petrochemicals which fell 15 percent, while those of cement and pulp and paper dropped 4 percent each.

He blamed the worsening world economy, while cement demand was sluggish and petrochemicals and pulp and paper were in a downward trend.

For nine months, consolidated revenue was 99.79 billion baht, up 3.24 billion baht or 3 percent from a year earlier.

The improvement was attributed to the lack of foreign-exchange losses for the period, according to a statement to the Stock Exchange of Thailand.

Mr Chumpol said the company also gained 268 million baht from selling two non-core affiliates and had an operating profit before extra items of 1.17 billion baht.