HeidelbergCement Bangladesh records profit fall in 1H17

HeidelbergCement Bangladesh records profit fall in 1H17
31 July 2017

In the second quarter of 2017, HeidelbergCement Bangladesh saw sales fall to BDT2.791bn (US$34.6m) from BDT3.114bn in 2Q16.

Warehousing, distribution and selling expenses fell from BDT112.2m in 2Q16 to BDT110m in 2Q17 while administrative expenses increased from BDT130.8m to BDT131.8m over the period. Net profit declined from BDT508m in April-June 2016 to BDT361.8m in April-June 2017.

For the first half of 2017, company sales also declined to BDT5.89bn from BDT6.67bn in the 1HFY16.  The company incurred warehousing, distribution and selling expenses of BDT215.41m and administrative expense BDT272.78m, compared to BDT186m and BDT262m incurred in the corresponding period last year. The cement producer earned a net profit of BDT718.34m from January to June 2017, 34 per cent lower when compared to BDT1.09bn earned in the corresponding period of the previous year.  

HeidelbergCement Bangladesh Ltd, which operates plants in Dhaka and Chittagong, has a market share of approximately 13 per cent of the domestic cement market.

Published under Cement News

Tagged Under: HeidelbergCement Bangladesh