Premier Cement made Tk 74.23cr profit in FY24

Premier Cement Mills PLC, one of Bangladesh's leading cement manufacturers, reported a profit of Tk 74.23 crore for the financial year ending on June 30, 2024.

This marked a significant turnaround from a Tk 84.23 crore loss in the previous year.

The cement producer also announced consolidated earnings per share of Tk 7.04, a sharp contrast to the loss per share of Tk 7.99 in the previous year, according to a disclosure on the website of the Dhaka Stock Exchange (DSE).

Premier's board has also recommended a 21.50 percent cash dividend, which is the highest payout in nine years. Premier Cement, which began operations in 2001, has steadily expanded its production capacity to 2.4 million tonnes annually, as per the data from its website.

A strategic partnership with FL Smidth-Denmark in 2017 further bolstered its output to 5.16 million tonnes, positioning it as a key player in the cement industry.

Shares of Premier Cement surged 4.52 percent to Tk 64.8 yesterday at the DSE.