Siam Pulp second-quarter net profit up

On 24 July Thailand“s Siam Pulp and Paper plc, a unit of Siam Cement Plc, Thailand“s largest industrial conglomerate, said its net profit rose 14% year-on-year in the second quarter, due mainly to h…

On 24 July Thailand“s Siam Pulp and Paper plc, a unit of Siam Cement Plc, Thailand“s largest industrial conglomerate, said its net profit rose 14% year-on-year in the second quarter, due mainly to higher domestic sales and lower costs. The firm said in a statement to the Stock Exchange of Thailand that it made a consolidated net profit of THB 894 million in the second quarter of 2001, compared with a net profit of THB 783 million in the same period last year. The company said its sales revenues rose slightly to THB 6.99 billion in the second quarter, from THB 6.90 billion. Reuters Multex Global Estimates forecast Siam Pulp“s net profit at THB 1.38 billion for 2001. Siam Pulp shares closed at THB 125 on 24 July. So far this year, they have gained 40%, compared with a 26% rise in the pulp and paper index and a 17% rise in the benchmark Stock Exchange of Thailand index . ($1 = 45.72 Baht).