HeidelbergCement incurs loss in March quarter due to competition and cost hike
HeidelbergCement Bangladesh Ltd incurred a loss of Tk16.77 crore in the January-March quarter of this year due to an increase in the prices of raw materials and intense competition in the cement industry.
According to its financial statements, the company's revenue also fell by 2% to Tk541.77 crore in the quarter.
A senior officer at the company told The Business Standard that the cement maker's business slumped after increases in the price of clinkers and freight costs.
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Also, because of intensive competition in the industry, the company could not increase its cement price to match the cost hike.
HeidelbergCement was listed on stock exchanges in 1989. The company failed to pay any dividend for 2019, but it paid a 20% cash dividend for 2020.
In 2021, it returned to profit from losses and recommended a 26% cash dividend for its shareholders.
In the last year, its earnings per share stood at Tk8.41.
It also set the annual general meeting for 27 June for approving the dividend and audited financial statements from the shareholders. The record date is 31 May.
On Thursday, its share price fell by 3.3% and closed at Tk264.9 per share on the Dhaka Stock Exchange.
