HeidelbergCement Bangladesh reports profit in 1H23

HeidelbergCement Bangladesh Ltd (HCBL) has earned a net profit of BDT478.02m (US$4.4m) in January –June 2023 against a loss of BDT205.29m in the same period of 2022, according to the company’s financial results. The profit was attributed to increased gross profit, sales, other income, and less finance expenses. However, warehouse, distribution and selling costs increased during the period.

According to the company, total sales increased to BDT10.207bn, compared to BDT9.035bn in January–June 2022, a rise of 9.41 per cent. Cost of sales stood at BDT8.94bn versus BDT8.78bn in the previous year’s six months. During the accounting period, warehouse, distribution and selling costs jumped to BDT242.06m from BDT155.29m. Administrative expenditure was down to BDT325.31m from BDT338.22m for the year-ago period. 

HCBL, part of Heidelberg Materials Group, has been one of Bangladesh’s largest producers of quality cement since 1998. In Bangladesh, it represents two brands: “Ruby Cement” and “Scan Cement”. In 2022, it produced and delivered 2.2Mta of cement from its three plants located at Kanchpur, Chittagong, and Mukterpur, two per cent up on the total sales volume in 2021.