Strengthening digital initiatives and optimising costs, LafargeHolcim Bangladesh—a multinational cement maker – has posted a 106% growth in net profit in January-September this year.
Rajesh Surana, CEO of LafargeHolcim Bangladesh Ltd, Said, "The company has delivered yet another exceptional quarter backed by strong cost control and efficiency improvements."
"In addition, our new product launches are highly successful and our customers continue to repose faith in our widest range of products and solutions. Our digital business has taken off to a new league of growth and creates a potential for continued momentum."
At the end of the first three quarters of 2021, the net profit of the company stood at Tk308.9 crore and earnings per share (EPS) at Tk2.66, which was Tk149.7 crore and Tk1.26 respectively in the January-September of 2020.
During the period, its net sales rose 37% to Tk1565.6, which was Tk1142.4 crore in the same time the previous year.
Currently, LafargeHolcim has a capacity to produce 4.2 million tonnes of cement, which makes up 10% of the market in Bangladesh.
The company, which has been running the cement business for almost two decades, has invested $500 million – the largest foreign direct investment in the sector – in building one fully integrated cement plant and three grinding plants.
It is a joint venture of Switzerland-based LafargeHolcim Group and Spain-based Cementos Molins.
The company has provided direct and indirect employment opportunities for over 3,000 people.
The company's share price on the Dhaka Stock Exchange rose by 3.12% on Thursday and closed to Tk95.90 each.
LafargeHolcim, which got listed on the capital market in 2003, has a paid-up capital of Tk1161 crore.