SCG posts 14% revenue growth

MANILA, Philippines — Revenues of the local unit of Thai conglomerate Siam Cement Group (SCG) went up by 14 percent in the first quarter from a year ago, showing recovery from the impact of the COVID-19 pandemic.

In a statement, SCG said its revenue from sales in the Philippines reached P3.832 billion from January to March, higher than the P3.36 billion in the same period last year.

SCG said the revenue growth was “mainly from operations in Mariwasa and United Pulp and Paper Co. Inc. (UPPC), which have been meeting rising ceramic demands.”

To ease domestic supply shortage, SCG said UPPC also maintains its operations to support those engaged in the manufacture of essential goods such as food and beverage, personal care and pharmaceuticals.

As of the first quarter, SCG’s total assets in the Philippines reached P18.841 billion, six percent lower from a year ago.

SCG’s total assets in Southeast Asia excluding Thailand stood at $9.661 billion (P468.469 billion) as of end-March.

“The first quarter 2021 operating results are a testament to the global economic recovery. Nevertheless, uncertainties remain, particularly in the second half of 2021, and SCG is committed to building resiliency by driving higher sales from HVA (high-value added products and services) and adopting digital technology to enhance production line and cost management,” SCG president and chief executive officer Roongrote Rangsiyopash said.

As COVID-19 remains a serious threat, he said SCG continues to prioritize safety and preventive measures for employees, customers and stakeholders.

“Business continuity management enables the company to continue delivering products and services and providing solutions to customers,” he said.

SCG, a leading business conglomerate in Southeast Asia, is involved in three core businesses: cement-building materials, chemicals and packaging.

Aside from Mariwasa-Siam Ceramics Inc. and UPPC, SCG operates in the Philippines through SCG Marketing Philippines Inc. and SCG International Philippines Inc.