Apex Footwear, Apex Tannery, Bata Shoe Company (Bangladesh), Fortune Shoes and Legacy Footwear have reported their results for January-March 2024.

Apex Footwear, the largest manufacturer in the country, reported a revenue of Tk3.95 billion (US$33.7 million) in the first quarter, an increase of 9.3% year-on-year, while net profit was up 29.56% to Tk16.3 million (US$139,079).

Also, part of the Apex Group, Apex Tannery had a revenue increase of 16.3% in the quarter to Tk224.2 million (US$1.91 million) while net profit was Tk16.7 million (US$142.492), up from a loss of Tk24 million (US$204,779) in the same period last year.

Bata Shoe Company had an improvement in revenue of 14.56% year-on-year to Tk2.8 billion (US$23.89 million) while net profit was up 34.74% to Tk183.6 million (US$1.57 million). Fortune Shoes, meanwhile, saw revenue decline by 25.7% to Tk301.6 million (US$2.57 million). Net profit was Tk9.8 million (US$83,625), down 37.42%. Finally, Legacy Footwear saw revenue drop 225% to Tk1.3 million (US$11,093) and its net loss increase by 62.37% to Tk2.8 million (US$23,893)

Source: The Business Post