Despite recording lower sales between July 2021 and March 2022 of the current financial year (FY), leading footwear manufacturer in Bangladesh, Apex Footwear, saw its profits rise by 50 per cent.
Media reports maintained this citing the company’s latest quarterly report, according to which, lower raw material costs helped in the same.
Reports further added even if local shoemaker’s sales dropped 9 per cent to Taka 849 crore in the July-March period, while it was Taka 935 crore a year earlier, Apex Footwear registered profits of Taka 7.90 crore in the first nine months of FY22, while it was Taka 5.26 crore during the same period the year before.
