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Siam Cement revises down 2017 sales growth due to sluggish cement demand

Thai government infrastructure projects not at cement procurement stage

Siam Cement Group Chief Executive Officer Roongrote Rangsiyopash told reporters in Bangkok on July 26 that 2017 sales would not reach initial targets of 5-10% growth.

BANGKOK -- Thailand's industrial conglomerate Siam Cement Group has revised down its sales growth outlook for 2017 to 3-5% from 5-10% following an unexpected drop in cement demand in the first half of the year.

The group's net profit in the April-June period came in at 13.252 billion baht ($396 million), down 17% on the year, on sales of 108.825 billion baht that were unchanged from a year earlier.

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