LafargeHolcim Bangladesh's profit jumped 34% in 2023

LafargeHolcim Bangladesh's profit jumped 34% in 2023
04 March 2024

LafargeHolcim Bangladesh has reported that its sales grew 20 per cent YoY to BDT28.39bn (US$258.6m), and profit jumped 34 per cent to BDT5.94bn in 2023, compared to the previous year, it said in a media statement on 29 February. The company sales were BDT23.59bn, and the profit was BDT4.45bn in 2022. 

"The performance demonstrates the strength of our diverse product portfolio and strategic presence driven by innovative products, high-value solutions, digital footprint, and new channels," Iqbal Chowdhury, chief executive officer of LafargeHolcim, was quoted as saying in the statement. Operational excellence and cost optimisation also helped the company achieve a remarkable performance," said Mr Chowdhury.

Based on the remarkable profit growth, the board of directors declared a 50 per cent cash dividend (BDT5 per share) for 2023, the highest in its history since its 2003 listing on the stock market. 

The head of the company said it would continue focusing on expanding channels and product portfolio and improving its digital footprint to ensure sustainable growth. "We are also at the forefront of de-carbonising building across its entire lifecycle to build a net-zero future that works for people and the planet while delivering solid performance simultaneously."

Published under Cement News