Apex Footwear’s Q1 profit up 26%

Apex Footwear, one of the leading footwear manufacturers, posted strong first-quarter earnings and revenue. 

The shoe producer reported a net profit of Tk 2.82 crore for the July-September quarter, up 26 percent compared to the previous year. 

As a result, earnings per share of the company rose to Tk 1.98, up from Tk 1.56 in the same period year ago, according to its unaudited Q1 financial statements.

As of 12:20 pm today, shares of Apex rose 0.24 percent to Tk 205.2 on the Dhaka Stock Exchange. 

The company's net revenue grew an impressive 20 percent year-on-year, reaching Tk 422.91 crore in July-September period.

However, the net operating cash flow per share of Apex Footwear declined to Tk 43.12 in the first quarter, down from Tk 48.57 last year. 

Net asset value per share rose slightly to Tk 476.35.