LafargeHolcim profits surge on higher sales

Profit of LafargeHolcim Bangladesh Ltd (LHBL) surged 66 per cent year-on-year in the first half of 2023 riding on higher sales and prices, the multinational cement manufacturer said today.

The company recorded Tk 361.5 crore in net profit in the six months to June from Tk 217.3 crore in the same period a year earlier, according to its unaudited financial statements.

Earnings per share (EPS) rose to Tk 3.11 during the period, registering a 66 per cent growth.

Shares of LHBL rose 0.29 per cent to Tk 69.7 on the Dhaka Stock Exchange as of 11.16 am.

LHBL said the EPS rose mainly because of increased aggregate sales and prices of cement.

Sales rose 38 per cent to Tk 1,525.6 crore in the first half of the year.

Its cost of sales also increased but the rate of spike was around 22 per cent. As such, LHBL managed to log 65 per cent higher gross profit in the first half of the financial year.

However, sales and profit growth were lower in the second quarter compared to the January-June period.

LHBL said its revenue was up 14 per cent year-on-year to Tk 571 crore in April-June of 2023. Thus, the EPS stood at Tk 170.6 in the second quarter, a jump of 39 per cent from a year prior.