ENP Newswire -
Release date- 01052014 - SCG announces the operating performance for the first quarter of fiscal 2014 showing increased revenue from growths from all business units, but decreased profits due to lower chemicals earnings.
The company recently announced the 12,000 MB investment in a new cement plant in
On a q-o-q basis, Profit for the Period increased 5% q-o-q, and is attributed to the seasonal growths in the cement-building materials business, and the recovery of the paper business. Revenue from Sales increased 17% q-o-q from increased q-o-q sales in all business units.
As for SCG business in ASEAN market outside
The total assets of SCG as of
The operating results of SCG's major businesses for Q1/2014 were as follows:
SCG Cement-Building Materials: in Q1/2014, SCG Cement-Building Materials reported Revenue from Sales of 47,512 MB, an increase of 10% y-o-y attributed to the consolidation of
SCG Chemicals: In Q1/2014, SCG Chemicals reported Revenue from Sales of 60,826 MB, an increase of 14% y-o-y, as a result of higher product margin. Profit for the Period amounted to 2,480 MB, a decrease of 6% y-o-y, due to FX gain of approximately 900 MB in Q1/2013.
In terms of innovative products and High Value-Added products (HVA), the Board of Directors of SCC has also approved a total investment of 1,825 MB for
In early April, SCG Cement-Building Materials has formed a joint venture with Florim Ceramiche S.p.A. (or 'Florim'), one of the leading global ceramic players, to invest in the production facilities of high-end ceramics, under COTTO brand. With total investment of 506 MB, SCG Cement-Building Materials will hold 33% stake. The plant will be located at Bologna (northern
For the business outlook 2014, SCG forecasted a slight decline in the overall demands for cement and construction materials, with an expected setback latter, within the country. However, the company has confidence in the stability of regional markets, foreseeing the gradual pick-up and growth in chemicals business, thanks to increased global demands that have been balanced by the economic cool-down in
SCG recorded revenue from exports in Q1/2014 at 32,625 MB, an increase of 12% y-o-y. The company expects export will increase from the previous years. Currently, the export proportion of SCG increased 2% q-o-q from 25% to 27%.
In Q1/2014, HVA products sales amounted to 40,894 MB, the equivalent to 34% of SCG's total sales. Furthermore, SCG's sales of SCG eco value products amounted to 38,013 MB, the equivalent to 31% of SCG's total sales.
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