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Siam Cement profit misses consensus by 40.1% in Q3

The Siam Cement Public Company Ltd said its third-quarter normalized net income came to 4.75 baht per share, compared with the S&P Capital IQ consensus estimate of 7.93 baht per share.

EPS increased 8.8% year over year from 4.37 baht.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.70 billion baht, a gain of 8.8% from 5.24 billion baht in the year-earlier period.

The normalized profit margin rose to 5.1% from 4.2% in the year-earlier period.

Total revenue declined 10.8% year over year to 110.90 billion baht from 124.27 billion baht, and total operating expenses declined 15.2% on an annual basis to 97.22 billion baht from 114.65 billion baht.

Reported net income rose 14.7% from the prior-year period to 9.00 billion baht, or 7.50 baht per share, from 7.85 billion baht, or 6.54 baht per share.

As of Nov. 11, US$1 was equivalent to 35.84 baht.