LafargeHolcim profit down in Q1

The net sales of LafargeHolcim Bangladesh during the first quarter of 2022 decreased by 1.0 per cent to Tk 6,259 million compared to Tk 6,318 million in Q1, 2021.
Operating EBIT reached Tk 1,278 million, a de-growth of 6.0 per cent over Q1, 2021.
The profit after tax for the quarter also registered de-growth of 9.0 per cent to Tk 945 million against Tk 1,035 million in the prior year.
"Our journey for cost leadership remained as a focal point during the quarter and had a very positive impact on the overall result," said a statement of the company.
Rajesh K Surana, CEO of the company, said:"The first quarter of the year 2022 has been a quarter with external challenges. Our net sales decreased by one per cent and EPS stood at Tk. 0.81 per share. We thank our employees, channel partners and stakeholders for their resilience which enabled us to navigate successfully in these difficult times.
"Recently, we have restarted our aggregates production with the permission from the Ministry of Industries. The import replacement project will save the country's foreign exchange and will ensure higher revenue for the government exchequer," he said.
"Full benefit of the business will come in the coming months which contributes a significant portion of profitability of the company. In addition, our recent initiative in e-commerce and Direct to Retail (D2R) is gaining momentum.