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Siam Cement profit misses consensus by 47.0% in Q3

The Siam Cement Public Company Ltd said its normalized net income for the third quarter amounted to 6.04 baht per share, compared with the S&P Capital IQ consensus estimate of 11.38 baht per share.

EPS rose 14.7% year over year from 5.26 baht.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.24 billion baht, a gain of 14.7% from 6.32 billion baht in the prior-year period.

The normalized profit margin climbed to 6.4% from 6.0% in the year-earlier period.

Total revenue increased 7.1% on an annual basis to 112.43 billion baht from 104.96 billion baht, and total operating expenses grew 9.4% year over year to 98.70 billion baht from 90.24 billion baht.

Reported net income fell 16.0% from the prior-year period to 11.84 billion baht, or 9.86 baht per share, from 14.09 billion baht, or 11.74 baht per share.

As of Nov. 7, US$1 was equivalent to 33.16 baht.