Two multinational firms to announce 2024 financials this week
Two multinational companies listed on the Dhaka Stock Exchange (DSE) are set to hold board meetings this week to announce their audited financial statements for 2024, according to Thursday's public disclosures.
LafargeHolcim Bangladesh will conduct its board meeting on 12 March, followed by Linde Bangladesh on 13 March.
Both companies have already disbursed interim cash dividends, as declared earlier. According to company insiders, they may announce final dividends for 2024 during their respective board meetings.
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LafargeHolcim Bangladesh
Earlier, LafargeHolcim Bangladesh distributed a 19% interim cash dividend based on its financial performance for the January-September 2024 period. In 2023, the cement manufacturer paid a 50% cash dividend, the highest in its history.
According to its unaudited financial report, LafargeHolcim's revenue declined by 4.40% year-on-year to Tk2,069 crore, while net profit fell by 36.55% to Tk330.80 crore during January-September 2024.
Its earnings per share (EPS) stood at Tk2.85, down from Tk4.49 in the same period the previous year. The company attributed the decline in profit to lower cement sales and foreign exchange losses.
On Thursday, LafargeHolcim's share price closed at Tk49.40, marking a 0.40% drop from the previous session.
Linde Bangladesh
Meanwhile, Linde Bangladesh reported a 2.58% increase in revenue, reaching Tk167.60 crore during January-September 2024.
The company's net profit skyrocketed 38 times to Tk628.58 crore, primarily driven by proceeds from the sale of its welding electrode business.
Linde earned Tk910.61 crore from selling its welding electrodes business to the American-Swedish industrial firm ESAB Group. After deducting a Tk138.29-crore investment in the subsidiary, the company posted a total capital gain of Tk772.31 crore.
At the end of September 2024, Linde Bangladesh's EPS stood at Tk413.05, a massive jump from Tk10.55 a year ago.
On Thursday, Linde Bangladesh's share price decreased slightly to close at Tk1,023.70.
