Siam Cement 3Q Net Profit Fell 35% on Year

Siam Cement PCL’s (SCC.TH) third-quarter net profit fell 35% on year due to lower contributions from its chemical business and weaker demand for its products amid the U.S.-China trade war.

Net profit for the July-September quarter was 6.20 billion baht ($205 million), Siam said Wednesday. Revenue rose 8.0% on year to THB110.33 billion.

Revenue from its chemicals business fell 24% on year to THB44.05 billion while revenue from its cement and building material business was down 2% on year to THB45.32 billion, the company said.