Apex Footwear’s profit jumps over 31pc

Apex Footwear Limited's profit jumped more than 31 per cent year-on-year in the financial year that ended on June 30, 2022. 

The company reported earnings per share of Tk 11.70 in 2021-22, which was Tk 8.92 a year earlier.

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The EPS went up thanks to an increase in local sales by 15.06 per cent compared to last year, said the footwear manufacturer in a post on the Dhaka Stock Exchange (DSE) yesterday.

Net asset value per share improved to Tk 252.95 from Tk 244.58, owing to a rise in the non-current assets and current assets in 2021-22 compared to 2020-21.

But the net operating cash flow per share fell to Tk 32.93 from Tk 145.24 a year earlier. The decrease was due to a significant increase in payments against materials purchase, increased inventory, and account receivables, said the post. 

Apex Footwear's board recommended a 35 per cent cash and a 10 per cent stock dividend for 2021-22.

The stock dividend has been recommended so as to utilise its retained amount as paid-up capital with a view to improving the capital adequacy.

Shares of the company rose 1.97 per cent on the DSE yesterday.