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Section: Stocks - 3Q07 net profit was in line with our expectation at Bt7.55bn, slipping 0.6% y-o-y despite gain from sales of ATC shares and other assets .
Thai Press Reports via NewsEdge Corporation :
Section: Stocks - 3Q07 net profit was in line with our expectation at Bt7.55bn, slipping 0.6% y-o-y despite gain from sales of ATC shares (Bt1.92bn) and other assets (Bt891m).
Core profit fell 44.6% y-o-y to Bt4.74bn, below expectation mainly due to lower EBITDA margins. Its cement business was hurt by strong competition, lower export margin and higher energy cost. Narrower product spread was behind the weak performance of its petrochemical segment. The PTA business booked an operating loss due to high feedstock cost (Paraxylene). The Paper segment was also affected by high raw material and energy costs.
SCC’s operating cash flow remained strong at Bt25.9bn, and interest coverage ratio was still high at 9.7x.
(DBS Vickers Securities (Thailand): 25 October 2007)
<<Thai Press Reports — 10/26/07>>
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