LafargeHolcim posts record Tk521cr profit in Jan-Sep this year

LafargeHolcim Bangladesh made a profit of Tk521 crore in the first nine months of this year, which is also the highest ever in its history.

The profit jumped over 58% in the January-September quarter compared to the previous year at the same time, the multinational cement manufacturer said in a press release.

LafargeHolcim Bangladesh posted earnings per share of Tk4.49 at the end of the first three quarters of 2023.

Additionally, the company's revenue exhibited substantial growth, surging by over 27% to Tk2,164 crore in the first nine months of this year compared to the same period in the previous year.

In the July-September quarter, its revenue and profit grew by 12% and 41% to Tk639 crore and Tk159 crore respectively over the same quarter of the previous year.

Iqbal Chowdhury, chief executive officer of LafargeHolcim Bangladesh, said, "I thank all members and stakeholders of LafargeHolcim Bangladesh family for their remarkable achievements over the past nine months, even in the face of challenging economic conditions and a significant currency devaluation."

He emphasised that these results underscore the strength of their resilient team and their efforts to expand the business, even in an uncertain economic environment.

Iqbal Chowdhury further said the third quarter's performance demonstrates the strength of our diverse product portfolio and strategic presence driven by innovative products, high-value solutions, digital footprint, and new channels.

"Our Geocycle project stands as a pioneering sustainable waste management solution in the country. We want to make a tangible contribution to bringing our society a step closer to a zero-waste future by managing more waste in the coming years," he said.

"We shall continue to focus on expansion of channels, exploring new business opportunities, and developing innovative products and solutions to bolster our sustainable growth moving forward," the CEO of the company noted.