Apex Footwear’s earnings declines amid pandemic

Due to the drop in sales in both domestic and export markets amid the Covid-19 pandemic, Apex Footwear has suffered a 12 percent fall in its earnings in the third quarter of the current fiscal year.

The company's earnings per share (EPS) in Q3 (January-March) of the current financial year was Tk1.02, which was Tk1.16 in the same period a year earlier, said the company in a filing with the Dhaka Stock Exchange on Tuesday.

As a result, the company's profit has decreased by Tk0.14 or 12 percent.

As of March 31, 2021, the company's net asset value (NAV) per share stood at Tk252.13.

“The company witnessed a fall in earnings as the sales were down due to the countrywide lockdown enforced to prevent the coronavirus epidemic,” said an official.

Besides, footwear and leather goods exports also suffered due to supply chain disruption across the globe caused by the pandemic, he added.