SET-listed Siam Cement Group (SCG), Thailand's largest cement maker and industrial conglomerate, saw its profits plunge by 41% year-on-year to 18.7 billion baht in the first half of 2022, mainly due to the impact of the Russian invasion of Ukraine.
The war has led to a global oil price surge and higher raw material prices, especially in SCG's chemicals business, while the company has also seen lower equity income, said Roongrote Rangsiyopash, SCG president and chief executive.
