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Business

SCG Philippines reserves grows 31% in Q4

Louella Desiderio - The Philippine Star

MANILA, Philippines — Siam Cement Group (SCG) Philippines registered a double-digit increase in revenue in the fourth quarter last year, bringing full year revenue to P16.24 billion in 2021 amid the easing of pandemic restrictions.

In a statement, SCG Philippines said its revenue from sales in the fourth quarter last year reached P3.97 billion, 31 percent higher year-on-year.

The fourth quarter result was also two percent higher compared to the P3.89 billion revenue from sales in the third quarter last year.

To help drive sales, SCG Marketing Philippines introduced The Decormart, formerly SCGshop, which is a one-stop-shop for interior and exterior decorations.

Through Decormart, SCG wants to provide hassle-free shopping for home improvement as consumers are spending less time in physical stores amid the pandemic.

Mariwasa Siam Ceramics Inc., meanwhile, rolled out new product offerings last year.

Among its new products is the Mariwasa Tile Grout, which bonds tiles and prevents cracks and chips caused by ground movements.

Mariwasa Siam Ceramics also launched a new vinyl 30x30cm tile collection reflecting style, comfort and quality.

The product is water- and stain-resistant and offers optimum durability.

Total assets of SCG Philippines amounted to P19.75 billion in the fourth quarter last year, up six percent year-on-year.

CEMENT

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