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Apex Footwear Limited and Fortune Shoes Limited have witnessed positive earnings in third-quarter.
Apex Footwear’s earnings per share (EPS) reached Tk 2.64 in the third quarter (Q3) of FY22, a significant increase of 172 per cent from Tk 0.97 a year earlier, said the company in a regulatory filing.
Its gross sales stood at Tk 283.7 crore, up from Tk 283.1 crore and net profit increased to Tk 3.11 crore from Tk 1.14 lakh during the period, according to its latest quarterly report.
Company Secretary Omar Faruque told The Business Post, “We are still able to maintain our export market as before, resulting in a rise in export earnings. In addition, our local sales increased in the third quarter, and the reduction in production costs had a positive impact on earnings.”
The main reason for increasing Net Operating Cash Flow per Share (NOCFPS) during the six months period of 2021-22 was less payment against materials purchase, said the company.
Furthermore, a reduction in income tax payment also supported an increase in the NOCFPS during the period July to December 2021 compared with the same period last year, it said. Fortune Shoes’ EPS stood at Tk 0.57, a rise of 46 per cent up from Tk 0.39 during the period.
Its gross sales hit Tk 36.5 crore, 2 per cent up from Tk 36.4 crore and net profit increased to Tk 9.18 crore from Tk 6.27 lakh during the period, according to its latest report. On Tuesday, Apex Footwear’s share price rose 1.90 per cent while Fortune Shoes s share price was down 1.93 per cent on the Dhaka Stock Exchange.
The companies are also among the six companies currently traded under the tannery category of the DSE. Apex tannery Limited reported EPS of Tk 0.12, slightly down from Tk 0.86 during the period.
Legacy Footwear Limited reported EPS of negative Tk 0.05, from negative Tk 0.63 during the period. Another Company Samata leather Complex Limited, reported EPS of negative Tk 0.02 from negative Tk 0.03 during the period.
Another tannery sector listed company, Bata Shoe Company (Bangladesh) Limited, ended its fiscal year in December, having already declared a 100 per cent dividend to its shareholders.
