Excellent results continued in Q2, 2023; 66% EPS growth in the first half of the year 

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• Delivered another quarter of strong topline growth of 34%, driven by progress against strategic priorities
• Consolidated operating EBIT reached staggering mBDT 2,167, an increase of 68%.
• Progress made in our Commercial Excellence and Innovative product portfolio

Iqbal Chowdhury, CEO of the company said:

“We achieved this performance together. My thanks therefore go to our employees, business partners and stakeholders. Without their special commitment and passion, such a remarkable development would not have been possible. With continuous emphasis on Agility, Cost & Innovation, we demonstrated strong performance in the second quarter of 2023, setting a solid foundation for rest of the year.

Our diverse product portfolio, efficient route to market, digital footprint, pan Bangladesh distribution network and aggregates business played a significant role in ensuring the healthy growth momentum. Geocycle, the sole Government approved waste management facility of the company, serving the nation in its commitment to zero-waste future, reduction of carbon emission while generating alternate fuel sustainably. Most importantly, we have our clear focus on key long-term value creation through de-carbonization.”

Performance:

Net sales during the quarter increased by 34% to 6,710 mBDT compared to 5,014 mBDT in      Q2, 2022. Operating EBIT reached mBDT 2,167 a growth of 68% over same quarter of the last year. Our journey for cost leadership remained as a focal point during the quarter and had a very positive impact on the overall result.

Outlook

In a volatile and high-cost environment, we continue to carefully balance our operations to mitigate the challenges. We are confident to deliver another year of strong growth in 2023.