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Thailand's Siam Cement (SCC): 2Q10 earnings review: Beat market consensus.

Thai Press Reports

| July 30, 2010 | COPYRIGHT 2008 Thai News Services. (Hide copyright information)Copyright

Section: Stocks - SCC announced a 2Q10 net profit of Bt7.3bn, up 6.7% YoY and 6.4% QoQ with an interim dividend at Bt4.50/share. The result beat the market consensus of Bt6.0bn by 21.7% due to hefty earnings from its paper unit, while its chemical and cement units were softer as expected. Since 1H10 earnings accounted for 51.0% of full-year projection, forecast is maintained at Bt27.6bn.

Key highlights for 2Q10 results: Paper unit: Hefty EBITDA margin of 20.0% owing to its higher selling price. This was driven by a higher selling price for packaging and printing & writing paper at US$470/ton and US$990/ton up 42.0% YoY and 33.0% YoY, respectively. This offset lower …

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