LafargeHolcim Bangladesh reports 6% increase in PAT

LafargeHolcim Bangladesh has seen its profit after tax advance 6.2 per cent to BDT843m (US$9.94m) in the first half of 2020, against BDT794m last year.

The company has noted the remarkable nature of the results, considering the impact of the COVID-19 pandemic. In the second quarter the cement producer saw revenue drop 41.3 per cent from BDT4.498bn in 2Q19 to BDT2.641bn in the 2Q20. Operating profit fell 62.9 per cent to BDT268.2m in the 2Q20 from BDT722.3m while profit after tax saw a 26.5 per cent YoY drop to BDT320.5m from BDT436.3m.

"The company is well positioned to weather the crisis, which is evident by the strong balance sheet and liquidity position. We are positive on the outlook of the cement industry for the second half of the year, the worst is possibly behind us," said Rajesh Surana, CEO.