Bata Shoe Faces Tk13 Crore Loss in Q3 2024

Golam Mainuddin has been unanimously elected as Chairman of Apex Footwear Ltd. during the company’s 282nd Board Meeting. Previously serving as an Independent Director, he is recognized for his leadership at British American Tobacco Bangladesh and holds leadership roles across several major organizations

In 2024, Bata Shoe Company (Bangladesh) reported a 26% year-on-year profit decline, with net profit dropping to Tk 29.57 crore and earnings per share falling from Tk 29.31 to Tk 21.62. The decline was driven by over 10% food inflation and political unrest, which forced the closure of nearly half its stores in Q3.

As the US moves to impose reciprocal tariffs, Bangladeshi exporters—especially in the footwear, pharmaceutical, plastic, and agro-processed sectors—are facing growing uncertainty. Footwear exporters, however, see strategic opportunities if the US adjusts its tariffs in Bangladesh's favor.

TRANSFORM, an impact accelerator led by Unilever, the UK Government, and EY, announced grants of up to BDT 10 million each for two Bangladeshi SMEs focused on climate resilience.

A proposed hike in gas prices by Petrobangla has sparked major concerns among industrialists in Bangladesh, fearing economic harm. Industrial leaders argue that the increase, if approved, could lead to factory closures, job losses, and reduced industrial output, harming economic growth and potentially causing social unrest.

In FY 2023-24, the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) faced operating losses due to reduced trading, fewer IPOs, and increased costs. The DSE's core revenue of Tk 125 crore fell short of expenses, causing a Tk 20 crore loss, while the CSE incurred a Tk 10 crore loss with Tk 31 crore in core revenue.