The Board of Directors of LafargeHolcim Bangladesh PLC. declared payment of interim cash dividend at 19 per cent at Tk. 1.9 per Equity Share of Tk.10 face value aggregating to Tk. 220.66 crore for the third quarter (July-September) 2024.
The dividend was declared as the company's net income that is Earnings Before Interest and Taxes (EBIT) declined by 28 per cent to Tk 4,758 million, in January-September in the current calendar year compared to the previous year.
The net income fell during the period due to the challenging macro-economic environment with increased costs and sharp currency devaluation impacting performance, though cost-saving measures provided some relief.
Net sales also decreased by 4% to Tk 20,692 million during the period compared to Tk 21,646 million in same first 9 months of 2023. Earnings per Share (EPS) also declined by 37% to Tk 2.85 from Tk 4.49, says a press release.
The rest of the year will be challenging due to the high inflation and the deficit in foreign currency. Despite that, we are optimistic and well poised to deliver a resilient performance with leading industry margin, the company anticipated.
"Amidst the broader economic challenges impacting the construction sector in the country, I am proud to share that LafargeHolcim Bangladesh PLC. has demonstrated resilience and stronger performance in the industry, the press release quoted LafargeHolcim CEO Iqbal Chowdhury as saying.
Geocycle, the waste management wing of the company is continuing to offer long-term solutions to the country's waste management challenges. Up to September 2024, the Company co-processed more than 32,000 tons of diverse waste streams accelerating the green growth agenda of the company. This resulted in 10.25% Thermal Substitution Rate (TSR) for the Company.
