• Saturday, Nov 28, 2020
  • Last Update : 09:52 pm

Bata Shoe reports higher loss per share

  • Published at 07:32 pm October 22nd, 2020
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The footwear giant’s per share loss was Tk37.55 for July-September’20 period as against Tk3.56 for the same period of 2019

Publicly traded company Bata Shoe Company (Bangladesh) Limited has reported a loss per share at Tk89.23 for nine months (Jan-Sep’20), resulting in a Tk112.74 loss compared to Tk23.51 in earnings per share during the same period of the previous year.

During the period, the company's earnings per share (EPS) fell compared to the same period last year due to dropping sales as a result of the Covid-19 pandemic, according to an official disclosure posted by the company on Dhaka Stock Exchange (DSE) website on Thursday.

The footwear giant’s per share loss was Tk37.55 for July-September’20 period as against Tk3.56 for the same period of 2019.

The multinational company’s net asset value (NAV) per share was Tk275.42 as of September 30, 2020 and Tk360.67 as of September 30, 2019.

Shares of Bata closed the day (Thursday) at Tk695.90, up by 0.04% from Tk694.20 per share in the previous session on the Dhaka bourse. 

The company was listed on the Dhaka Stock Exchange in 1985. It belongs to the “A” category.

Half-yearly (Jan-Jun’20) loss of the company stood at Tk70.68 crore against a profit of Tk26.14 crore year-on-year.

Another footwear giant Apex Footwear’s net profits witnessed a sharp decline by 48.49% in the fiscal year ending on June 30, 2020, with the company’s sales dropping due to Covid-19 both in domestic and export markets.

Amid declining profitability, the board of directors of the company declared only a 25% cash dividend for the last fiscal year. The dividend is their lowest in the last 12 years.

According to the financial statement for the fiscal year 2019-20, Apex Footwear, the local giant in footwear and leather goods manufacturing, made net profits of Tk6.32 crore, down by 48.49%, which had been Tk12.27 crore in FY19.

Consequently, earnings per share of the company declined by 48.50% to Tk5.62, which was Tk10.91 in the previous fiscal year.

The people in the sector said that usually around 40% of sales were made during Eid-ul-Fitr, when mostly new and high value products are sold. 

But due to the pandemic, the company missed out on the prime sales as well as on general sales as people avoided shopping due to the Covid pandemic, they said further.

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