LHBL posts 46pc growth in net profit in Q2

Leading cement manufacturer LafargeHolcim Bangladesh (LHBL) posted a significant increase in profits in the second quarter of the current year.

Its net profit increased by 46 per cent during the period (April-June 2019) compared to the same quarter of last year. The company earned BDT 4,500 million revenue during this period which is BDT 641 million more than the same period of 2018, according to a recent statement of the company.

Earnings per share in Q2 2019 improved to 38 paisa compared to 26 paisa in the same quarter of previous year. Net Asset Value per share stood at BDT 13.14 YTD (year to date) June, 2019.

Rajesh Surana, Chief Executive Officer of LafargeHolcim Bangladesh, said "The Q2 2019 results demonstrate the strong performance trend which continues from 2018. Our focus on raising profitability through commercial innovation, operational efficiency and cost control continues to pay off. We are determined to build on this and further increase confidence of our investors".

"During this period we have been able to meet our customer demand as well as align ourselves with the massive developments happening across the country. We plan to step up our participation in this development spree through our quality products and customer centric strategy."

Rajesh Surana, CEO, LHBL attributed the good result to continued support of customers and business partners.

LafargeHolcim Bangladesh now owns four cement plants including country's only integrated cement in Chhatak of Sylhet.