LafargeHolcim’s profit soars 56pc

LafargeHolcim Bangladesh (LHBL) posted a significant improvement in financial results in 2019. Consolidated Sales Revenues for the year rose to BDT 17,840 million, up by BDT 1,208 million compared to 2018, said a statement.

The Company’s initiative on cost optimization helped it achieve a growth of Profit before Tax (PBT) by 42 per cent over last year.

Profit after Tax (PAT) increased by 56 per cent to reach BDT 1,737 million. As a result, earnings per share for 2019 improved to Tk 1.50 Taka compared to Tk 0.96 of the previous year.

LafargeHolcim Bangladesh now owns four cement plants including country’s only operational integrated cement plant in Chhatak.

“2019 was a challenging year for the cement industry. The impact of increase in raw material costs and additional taxes was significant. Despite this impact, LafargeHolcim demonstrated a strong performance trend. Our focus on improving operational efficiencies, driving commercial innovation and cost optimisation continues to be effective. We are determined to build on this thrust and further increase value to our stakeholders”, Rajesh Surana, Chief Executive Officer of LafargeHolcim Bangladesh (LHBL) said.Report:FE