LafargeHolcim logs 10% rise in profits

LafargeHolcim Bangladesh logged a rise in profits in the April to June period of 2022 thanks to higher sales.

The company's profit rose 10 per cent year-on-year to Tk 122 crore in the second quarter, which was Tk 111 crore the previous year.

The multinational cement maker's net sales swelled 6 per cent year-on-year to Tk 501 crore in the same period.

Depending on the better quarterly performance, its half-yearly profit rose 1 per cent to TK 217 crore and sales edged up 2 per cent to Tk 1,127 crore.

Rajesh K Surana, CEO of LafargeHolcim Bangladesh, said the company faced challenging times due to increased cost of freight and raw materials globally.

The company's innovative products, efficient distribution channels, new e-commerce platform and aggregates business ensured strong growth momentum, said Surana in a press release that was sent on the half yearly performance.

Geocycle, the waste management facility of the company, is helping LafargeHolcim to accelerate the reduction of carbon dioxide emission and generate alternate fuel sustainably, he added.

On the basis of its profits, board of directors of the company announced 15 per cent cash dividend for its shareholders.