HCM CITY (VNS) — Thai-owned SCG has announced its third quarter results, which show assets grew by 14 per cent year-on-year to US$645 million.

The group, whose activities in Viet Nam include production of building materials, paper, and chemicals, reported quarterly sales of $169 million, representing 12 per cent growth. Revenues for the year's first nine months topped $463 million, or 28 per cent higher, mostly due to increased sales at building materials company Prime Group and Vina Kraft Paper.

The company has announced plans to invest almost VND2 trillion (US$ 93 million) in cement-building materials and HVA (heating, ventilating, and air conditioning) products.

Overall the group reported profits of $764 million on sales of $11.44 billion in the first nine months, representing a decrease of 13 per cent and an increase of 12 per cent. The profit fall is largely attributed to a one-off profit of $53 million in the third quarter of last year and lower income at some associated companies.

SCG has a sustainable growth policy everywhere it operates, which includes support for development of education and human resources in the local community.

On November 5, as part of its Sharing the Dream programme, the company and Tuoi Tre newspaper awarded scholarships worth VND5 million (US$240) each to 22 poor students in HCM City.—VNS