SCG reports sales in first quarter

Wednesday, May 06, 2020 07:29

Packing products made by SCG. The Thai company reported first quarter sales of VNĐ78.6 trillion. — VNS Photo

SCG, a Southeast Asian conglomerate, has announced first quarter showing similar figures to the previous quarter.

Roongrote Rangsiyopash, president and CEO of the company, said, “The company’s first quarter sales were worth VND78.6 trillion (US$3.4 billion), a decrease of 6 per cent year-on-year, mainly from lower chemicals prices due to weak global demand.”

Like the previous quarter increased revenues from raw materials for cement and packaging offset the decreased revenues from chemicals.

But profits declined 40 per cent year-on-year and 2 per cent quarter-on-quarter to VND5.2 trillion ($223 million) due to decreased margins.

Revenues from outside Thailand, including exports from there, were worth VND33.3 trillion ($1.4 billion).

In Viet Nam, sales topped VND6.1 trillion ($262 million), representing a decrease of 4 per cent year-on-year mainly due to a fall in packaging and cement revenues.

Amid the COVID-19 pandemic, the company has been continuing to operate by adopting social distancing and leveraging digital infrastructure including cloud-based tools to enable employees to work from home.

It has donated cash, medical equipment like medical masks, face shields, hand sanitisers, and disinfectant sprays and food across the country.

The conglomerate has more than 200 companies under its umbrella and 57,000 employees. — VNS

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