Bata Shoe’s sales surge 51pc

Bata Shoe Company (Bangladesh) Limited's sales rose 51 per cent year-on-year to Tk 213 crore in the July-September quarter on the back of increased turnover during Eid festivals and promotional activities.

The multinational company's sales increased 37 per cent year-on-year to Tk 744 crore in the January to September period as well.

Riding on the higher sales, the company made a comeback and booked a profit of Tk 27.50 crore in July-September after incurring a loss of Tk 14.76 crore in the previous quarter, according to the financial report of the company.

The shoemaker also narrowed losses in July-September of 2022: its earnings per share (EPS) were Tk 4.31 in negative in the quarter against Tk 8.36 in negative during the identical period a year earlier.

The EPS surged to Tk 20.11 in January-September from a negative Tk 10.80 in the same nine-month period of 2021.

The EPS increased compared to last year driven by higher revenue growth, especially for the increased sales during Eid festivals and promotional activities, said the multinational company in a filing on the Dhaka Stock Exchange (DSE) yesterday.

The net operating cash flow per share (NOCFPS) improved to Tk 53.97 in January-September of 2022 from Tk 49.11 a year ago.

The NOCFPS went up for the higher revenue growth and timely collection of payments from customers and control over supplier payments, the filing said.

The board of directors of Bata Shoe Company (Bangladesh) declared a 260 per cent interim cash dividend based on the nine-months' financials and the retained earnings up to December 31, 2021.

Still, shares of the company dropped 0.02 per cent to Tk 930 on the DSE yesterday.