Apex Footwear profit rises 10pc in Q3 on stronger sales

Apex Footwear posted a 10 per cent year-on-year growth in profit to Tk 10.68 million in the third quarter of FY26, supported by higher sales.

The listed home-grown shoemaker recorded a 14 per cent year-on-year increase in revenue in the quarter through March, according to its financial statements published on Tuesday.

The company boosted sales through aggressive advertising in targeted markets, particularly in new and rural segments. It also benefited from a shift in consumer preference toward local brands offering value-for-money products.

Sales were further supported by seasonal demand driven by Eid-ul-Fitr, the largest religious festival for Muslims, which fell during the quarter.

"The main factors [behind the financial performance] were the increase in net sales revenue and the increase in profit before tax," the company said.

For the nine months through March this year, the company's profit also climbed 27.5 per cent year-on-year to Tk 89.2 million, while sales increased 14 per cent to Tk 15.59 billion.

However, net operating cash flow per share-a key indicator of a company's ability to generate cash from core operations-declined to Tk 122.92 during the nine-month period to March this year from Tk 140.95 in the same period a year earlier.

The company attributed the decline in net operating cash flow to higher payments to suppliers, employees, and others, driven mainly by increased raw material costs, rising direct labour expenses, higher utility bills, and income tax payments.

Alongside its own brands, Apex Footwear's local segment also outsources and sells footwear and accessories of various foreign brands, including Venturini, Nino Rossi, and Moochi. The company continued to focus on product diversification, which it expects will help boost sales further in the future.