SCG records rise in profit in 2016

15:23 | 14/02/2017 Companies

Thailand’s SCG Group announced a year-on-year profit increase of 24 per cent to VND36.18 trillion (US$1.63 billion) in 2016, thanks to the performance of its chemical business and energy costs.

scg records rise in profit in 2016
Photo: doanhnhansaigon.vn

During the period, its revenue from sales dropped 4 per cent year-on-year to approximately VND273.2 trillion ($12.36 billion), while export revenue, which accounted for 27 per cent of the group’s total revenue from sales, was VND72.6 trillion ($3.28 billion).

On December 31, 2016, SCG’s total assets amounted to more than $15 billion, of which its assets in the ASEAN region, excluding Thailand, stood at $3.51 billion, or 23% of its total assets.

“In ASEAN, we continue to implement strategies and are solidifying the SCG brand. SCG believes that this market holds high prospects, with dynamic growth from the government’s investment policies as well as domestic consumption and trade among ASEAN countries,” Roongrote Rangsiyopash, president and CEO of SCG, said.

SCG’s ASEAN investments include a cement plant in Myanmar, which has an annual production capacity of 1.8 million tonnes, and Viet Nam’s second kraft paper plant, whose capacity is 243,000 tonnes a year. Both plants began commercial production in 2017.

SCG, one of the leading conglomerates in the ASEAN region, began business operations in Viet Nam in 1992 with a trading business and gradually diversified into cement-building materials, chemicals and packaging sectors.

Today, it has 22 companies across Viet Nam that employ around 6,900 people.

Theo VNS