Premier Cement Mills Ltd (Bangladesh) has reported a net profit of BDT742.3m (US$6.2m) for the period ending 30 June 2024. This marks a significant turnaround from a BDT842.3m loss in the equivalent period of the previous year.
A company official said that the combination of reduced foreign exchange losses and starting operations from a new factory unit has helped Premier Cement produce its cement at a low cost, increasing its capability of business amid intensive competition.
Furthermore, the company's strategic partnership with FLSmidth (Denmark) since 2017 has bolstered its output to 5.16Mta, positioning it as a key player in the country's cement industry.
