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Siam Cement profit misses consensus by 27.8% in Q2

The Siam Cement Public Company Ltd said its second-quarter normalized net income amounted to 6.92 baht per share, compared with the S&P Capital IQ consensus estimate of 9.58 baht per share.

EPS climbed 38.8% year over year from 4.98 baht.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.30 billion baht, a gain of 38.8% from 5.98 billion baht in the prior-year period.

The normalized profit margin climbed to 7.3% from 4.8% in the year-earlier period.

Total revenue declined 8.8% year over year to 113.82 billion baht from 124.80 billion baht, and total operating expenses fell 15.8% from the prior-year period to 95.47 billion baht from 113.41 billion baht.

Reported net income increased 62.7% year over year to 13.88 billion baht, or 11.56 baht per share, from 8.53 billion baht, or 7.11 baht per share.

As of Aug. 13, US$1 was equivalent to 35.22 baht.