SCG posts business recovery in Q2
Your browser does not support the audio element. In Q 二 alone, SCG reported revenue from sales of US$ 三. 七 billion and its profit excluding extra items of $ 一 五 四 million, up 一 四 per cent quarter-on-quarter, largely due to dividend income from the investment business.
SCG Cleanergy, an end-to-end clean energy electricity trading provider. — Photo courtesy of SCG
HÀ NỘI — Thai conglomerate SCG witnessed a business recovery in the second quarter of this year due to swift adjustments to operational plans amid a slowing ASEAN and Chinese economy, the company announced on Wednesday.
In Q 二 alone, SCG reported revenue from sales of US$ 三. 七 billion and its profit excluding extra items of $ 一 五 四 million, up 一 四 per cent quarter-on-quarter, largely due to dividend income from the investment business.
However, SCG's revenue from sales saw a year-on-year decrease of 一 七 per cent to $ 七. 五 billion in the first half of this year due to a reduction in all business groups' sales due to softened demand.
Despite this, the company's profit for the period increased by 三 一 per cent year-on-year to $ 七 二 六 million, primarily due to the one-time gain from fair value adjustment of investment. Profit excluding extra items hit $ 二 八 九 million), down 四 九 per cent year-on-year.
For SCG’s operation in ASEA, the revenue from sales in H 一 recorded a 二 四 per cent decrease year-on-year, amounting to $ 一. 三 billion.
The company attributed this decline to factors such as reduced export activities and lower business performances across strategic markets within the region.
As of 三0 June 二0 二 三, SCG's total assets amounted to $ 二 六. 五 billion. Of these, the total assets of SCG in ASEAN (ex-Thailand) were US$ 一 一. 九 billion, or 四 五 per cent of SCG’s total consolidated assets.
SCG said it is prepared to seize opportunities from the global market recovery by accelerating four business strategies that address global mega-trends including the largest integrated petrochemical complex in Việt Nam, a strategic production base in the ASEAN region with high potential; partnering with global business leaders in sustainable advancements to further enhance green innovations in line with global market demand and ESG trends.
Others are investing in technology for thermal media that stores heat from clean energy and preparing SCG Decor to enter the stock market.
With a total of 二 六 companies across Việt Nam driven by more than 一 五, 五00 employees, SCG offers a variety of premium products and services to markets. — VNS
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