Confidence Cement’s profit falls over 27% in Jul-Sep
Confidence Cement Ltd's profit declined by 27.28 per cent year-on-year to Tk 13.14 crore in the July-September quarter of 2022 driven by lower sales, a higher raw material price, and the exchange rate volatility.
The cement manufacturer clocked a profit of Tk 18.07 crore in the first quarter of the previous financial year.
Confidence Cement reported consolidated earnings per share of Tk 1.68 for July-September this year against Tk 2.31 in the same quarter of 2021, according to the unaudited financial statements.
The consolidated EPS decreased because of the failure to hit the sales target, higher raw material prices in the international market, and the loss stemming from a foreign currency fluctuation, said Confidence Cement in a filing on the Dhaka Stock Exchange.
Shares of Confidence Cement last traded at Tk 93.50 on the DSE yesterday.
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