Staff Reporter :
Apex Footwear Ltd, one of the leading footwear manufacturers, secured strong first-quarter earnings and revenue.
The company’s net revenue grew an impressive 20 percent year-on-year, reaching Tk 422.91 crore in the 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.
The shoe manufacturer reported a net profit of Tk 2.82 crore for the July-September quarter, up 26 percent compared to the corresponding year.
As a result, earnings per share of the company increased e to Tk 1.98, which was Tk 1.56 in the same period of the previous year, according to its unaudited Q1 financial reports.
Apex Footwear Limited, a listed company, has released its unaudited financial report for the first quarter ended September 30.
Yesterday, the shares of Apex rose 0.24 percent to Tk 205.2 on the Dhaka Stock Exchange.
It was published after reviewing and approving the financial report of the first quarter of the current financial year in the meeting of the company’s board of directors held yesterday, Dhaka Stock Exchange sources said.
On September 30, the company’s net asset value per share (NAVPS) was Tk 476.35 while the NAVPS was Tk 474.37 during the same period of the previous year.
Apex Footwear paid a dividend of Tk 45 percent for the financial year ended last June. Out of this 35 percent is a cash dividend and 10 percent is a bonus dividend.
The company has declared a bonus dividend for three consecutive years from 2022.
According to Dhaka Stock Exchange (DSE) data, Apex Footwear’s paid-up capital is Tk 15 crore 72 lakh. Authorized capital is Tk 50 crores.
In 2023 also, the company paid 45 percent dividend to investors in cash and bonus. In 2022, they gave 45 percent dividend in cash and a bonus.
The highest share price of this company in the last year was Tk 320 while the lowest price was Tk 188.
Apex Footwear Ltd was established in 1990 as an export-oriented factory.
In 1993, the company was listed on the Dhaka Stock Exchange and it invested in backward linkages. By 1996, Apex had established an effluent treatment plant.
Apex is the largest shoemaker in South Asia, accounting for approximately 15 percent of leather footwear exports from Bangladesh.