Cement News tagged under: Bangladesh
Crown Cements' profit plunged in July-September 202414 November 2024, Published under Cement NewsCrown Cement's profit dropped 89 per cent YoY in July-September 2024 to BDT37.7m (US$0.315m) from BDT345m in the same quarter a year ago. Total sales revenue during this period reduced to BDT7bn from BDT7.12bn, primarily due to the lower demand for cement in Bangladesh. According to the company’s public announcement, sales revenue decreased by 1.74 per cent due to a 2.5 per cent decrease in sales volume resulting from low market demand during the rainy season and political instability f... |
Premier Cement returns to profit24 October 2024, Published under Cement NewsPremier 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. Furth... |
Heidelberg Materials Bangladesh reports loss in 3Q2422 October 2024, Published under Cement NewsHeidelberg Materials Bangladesh posted sales of BDT2934.9m (US$24.5m) in the July-September 2024 quarter, down 19.6 per cent YoY from BDT3651.3m in the 3Q23. Operating profit fell by 71.5 per cent YoY to BDT17.3m from BDT60.7m over the same period. The company also reported a net loss of BDT7.96m in the 3Q24. The loss per share was BDT0.14, according to a disclosure on the Dhaka Stock Exchange website. The company attributed the negative result to a drop in sales volumes and net sales ... |
LafargeHolcim Bangladesh conferred a prestigious award08 October 2024, Published under Cement NewsLafargeHolcim Bangladesh PLC has been awarded the prestigious ‘Gold’ Award in the Manufacturing Sector category at the 11th Institute of Chartered Secretaries of Bangladesh (ICSB) National Award. The award ceremony took place in Dhaka on Saturday. The company was recognised for its outstanding corporate governance practices, transparency, and accountability in overall management. Dr Salehuddin Ahmed, Adviser to the Ministries of Finance, Commerce, and Science and Technology, attended th... |
Confidence Cement invests US$68m in new facility in Narsingdi02 October 2024, Published under Cement NewsConfidence Cement PLC , a leading cement producer based in Bangladesh, is investing BDT8.15bn (US$68.2m) to construct a new production facility on 10 acres of land in Narsingdi. This expansion comes amid a slowdown in construction across Bangladesh following political changes, yet the company is positioning itself to meet future demand in Dhaka and surrounding regions. The new unit, Confidence Cement Dhaka Ltd, will have a daily production capacity of 6000tpd and is expected to create ar... |
Bangladesh cement sales drop as major construction projects shelved23 September 2024, Published under Cement NewsSales of cement in Bangladesh have nearly halved in the last few of months as real estate developers cancelled construction plans, while public projects were delayed because of nationwide unrest and the sudden political changeover. According to the Bangladesh Cement Manufacturers Association (BCMA), cement sales declined by over three per cent to 25Mt in the January-August 2024 period compared to 26Mt in the same period of 2023. Cement producers have found it hard to move product.... |
Confidence Cement to issue rights shares19 September 2024, Published under Cement NewsBangladesh cement producer Confidence Cement PLC has decided to issue rights shares to raise BDT1.29bn (US$m10.78m) for investment in an associate company named Confidence Cement Dhaka and repayment of term loans. The Chittagong-based cement manufacturer will issue one right share for every three existing shares at BDT45 each, including BDT35 as a premium, as per the board’s decision at a recent meeting. The company’s total number of ordinary shares is 86.25m, meaning the cement make... |
National Budget FY24-25 offers no direct incentive for the cement sector14 June 2024, Published under Cement NewsBangladesh’s National Budget for FY24-25 was presented by Abul Hassan Mahmood Ali, Minister of Finance, in parliament on 6 June 2024. A cursory look at budget documents reveals no direct tax measures/proposals for the cement sector, which encounters financial challenges due to the high cost of raw materials. However, some indirect tax proposals may positively impact the cement industry. The corporate tax rate, including unlisted cement firms, was lowered by 2.5 percentage points. While form... |
Substantial growth in Bangladesh's cement exports during 11MFY2407 June 2024, Published under Cement NewsBangladesh's cement industry has experienced significant export growth during the 1MFY24. The sector recorded a 34.3 per cent YoY increase in cement export revenue, reaching US$16.81m during the 11MFY23-24. This marks a substantial rise from US$12.52m in the corresponding period of the previous year and includes certain salt, stone, and related products. Cement exports also grew by 23.4 per cent YoY, surpassing the target of US$13.62m for the 11MFY23-24. Bangladesh mainly exports cement t... |
HeidelbergCement Bangladesh looks for new MD29 May 2024, Published under Cement NewsHeidelbergCement Bangladesh Ltd is seeking a new managing director to oversee its operations in Bangladesh. Part of Heidelberg Materials (HM) Group, HeidelbergCement Bangladesh Ltd (HCBL) is Bangladesh’s leading cement manufacturing company. With a rich history of 151 years and a global presence in over 50 countries, the group boasts a workforce of 51,000 and an annual turnover of EUR21.2bn. In Bangladesh, HCBL offers two renowned flagship brands in Ruby Cement and Scan Cement. Appli... |