LafargeHolcim profits up 41% in Q3

Sales and profits of LafargeHolcim Bangladesh, a multinational cement manufacturing company, grew in the July-September period of 2023 in spite of facing challenging economic conditions.

Its profits rose 41 percent year-on-year to around Tk 160 crore in the third quarter of the year. Meanwhile, its sales grew 12 percent to Tk 639 crore.

The company disclosed the financial reports after a board meeting yesterday.

CEO Iqbal Chowdhury termed it "outstanding" considering the challenging economic conditions and sharp devaluation of the local currency.

"This demonstrates the strength of our resilient team and efforts to grow the business even in an uncertain business environment," he said in a press release.

The third quarter's performance demonstrates the strength of its diverse product portfolio and strategic presence driven by innovative products, high-value solutions, digital footprint and new channels, he said.