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LafargeHolcim Bangladesh Limited has registered a 106 per cent jump in its net profit in the first nine months of the current year compared to the same period of previous year.
The listed multinational cement manufacturing company’s profit after tax for January- September period stood at Tk 309 crore, it said in a disclosure on Thursday.
It, at the same time, was successful in compensating a significant portion of the increased input cost through commercial action.
Strengthening digital footprint, maximising the market outreach by further getting closer to end customers, relaunching of one of flagship brands “Supercrete” and driving seamless cost-effectiveness programs have played an instrumental role to achieve such a strong result, the company said.
Chief Excitative Officer of the LafargeHolcim Bangladesh Rajesh Surana said his company has delivered yet another exceptional quarter backed by strong cost control and efficiency improvements.
“In addition, our new product launches are highly successful and our customers continue to repose faith in our widest range of products and solutions,” he said.
“Our digital business has taken off to a new league of growth and creates the potential for continued momentum. We thank our employees and business partners for their continued support that ensured the growth momentum” he added.
Net Sales during the third quarter has gone up to Tk 460 crore from Tk 3,65 crore while operating earnings before interest and taxes (EBIT) increased to Tk 121.5 crore from Tk 84 crore of Q3 last year.
In the first nine months (Jan’Sep’21), the company achieved superlative earnings per share (EPS) growth of 106 per cent to Tk2.66, supported by cost optimization and digital initiatives.
Surma Holding B.V. incorporated in the Netherlands, owns 58.87 per cent shares of the company which is owned by Holcim Group based in Switzerland and Cementos Molins based in Spain with a by 50:50 shareholding ratio.
The LafargeHolcim Bangladesh was listed on the Dhaka Stock Exchange in 2003. The company’s paid-up capital is Tk1,161 crore. Its closing price was Tk95.90 during Thursday’s trade on the stock exchange.
