LafargeHolcim’s operating profit jumps 31% in Q3

LafargeHolcim Bangladesh Limited has posted a 31% surge in its operating profit in the July to September period of 2020.

During the period, the company's operating profit stood at Tk84.4 crore compared to Tk64.2 crore in the same period of 2019, said a media statement issued on Thursday.

The company also witnessed a 3% increase in its net sales in the quarter on a year on year basis.

The outlay of its net sales stood at Tk365.5 crore in the July-September period this year compared to Tk355.8 crore in the same period of 2019.

During the quarter, enhanced focus on supply chain management, contract negotiations, and improved production efficiencies helped the company post such growth, the media statement read.

Despite uncertainties amid the Covid-19 pandemic, the company believes strong record of growth and sound economic policies of Bangladesh will rebound its growth trajectory.

The recent initiatives by the government coupled with improvements in remittance inflow will help resurgence of rural demands. Besides, government impetus on infrastructure will play a strong role in driving cement demand, the media statement said.

LafargeHolcim was listed on the capital market in 2003. Its paid-up capital is Tk1,161.37 crore.

Sponsors and directors of the company hold 64.68% of its share, while institutional investors have 15.45%, foreign investors 0.86% and general investors have 19.01% of the shares.

The closing price of each share of the company was Tk39.6 on Thursday at the Dhaka Stock Exchange.

LafargeHolcim Bangladesh Ltd is a frontline cement producer in Bangladesh. It is a joint venture of LafargeHolcim and Cementos Molins.