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Siam Cement profit misses consensus by 25.2% in Q1

The Siam Cement Public Company Ltd said its first-quarter normalized net income amounted to 7.94 baht per share, compared with the S&P Capital IQ consensus estimate of 10.63 baht per share.

EPS climbed 17.0% year over year from 6.79 baht.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.53 billion baht, a gain of 17.0% from 8.15 billion baht in the year-earlier period.

The normalized profit margin rose to 8.2% from 7.4% in the year-earlier period.

Total revenue increased 5.7% on an annual basis to 116.27 billion baht from 110.00 billion baht, and total operating expenses rose year over year to 97.92 billion baht from 93.81 billion baht.

Reported net income rose 28.9% on an annual basis to 17.39 billion baht, or 14.49 baht per share, from 13.49 billion baht, or 11.24 baht per share.

As of May 8, US$1 was equivalent to 34.64 baht.