LafargeHolcim Bangladesh PLC has reported a decline in profit for the July-September quarter of 2024, according to its interim financial statement. Net profit fell to BDT878m (US$7.34), down from BDT1.59bn in the same period last year. Revenue also decreased slightly to BDT6.27bn, compared to BDT6.39bn in 3QFY23. The decline has been attributed to elevated sales costs impacting profitability during the quarter.
Despite the financial challenges, the company has received recognition for its management practices, earning the prestigious ‘Gold Award’ in the Cement Manufacturing category at the 14th Institute of Cost and Management Accountants of Bangladesh (ICMAB) National Award ceremony on 14 November 2024. This marks the company’s second consecutive year receiving the award, highlighting its excellence in corporate governance, transparency, and accountability.
Mr. Iqbal Chowdhury, chief executive officer of LafargeHolcim Bangladesh, accepted the award from Dr. Salehuddin Ahmed, adviser to the ministry of finance, at the ceremony.
by Abdul Rab Siddiqi, Pakistan
