Lafarge Holcim has announced a profit of Tk 243 crore for the first six months of the year, according to a company press release. Despite the profit, the company faced a 5% decline in net sales due to reduced demand in the construction sector. Operating profit also dropped by 25% to around Tk 347 crore, attributed to increased expenses and the devaluation of the rupee.
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To maintain better margins in the construction sector, Lafarge Holcim is continuing operational efficiency improvement activities. Iqbal Chowdhury, CEO of Lafarge Holcim Bangladesh, stated, “The overall economy of Bangladesh is facing challenges, affecting the construction sector and consequently our sales. We are focusing on sustainable waste management services, expanding sales channels, strengthening our aggregates business, and digitization. We aim to turn around the rest of the year through cost-cutting and new product innovations.”
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In the first half of 2024, the company’s net sales decreased by 5% to approximately Tk 1,442 crore, down from Tk 1,526 crore in the same period last year. Earnings per share dropped by 33% to Tk 2.9. Lafarge Holcim is leading in tackling the country’s waste management challenges through its GeoCycle system. Over 23,000 tonnes of waste were sustainably managed in the first six months of the year. The company has also started managing waste for Sylhet City Corporation, which will help increase the thermal substitution rate in the future.
