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Apex Foods Reports Tk 1.25 Crore Profit Amid Market Fluctuations

2024-11-10 09:38:35.179000

Apex Foods Ltd has announced a profit of Tk 1.25 crore for the July-September 2024 period, reflecting a 2% decline compared to the same quarter last year. The company's earnings per share (EPS) decreased slightly from Tk 2.25 to Tk 2.20. Following the announcement, Apex Foods' stock opened at Tk 215.5 but experienced a decline of 3.94%, dropping to Tk 207 by 1:48 PM. Despite the profit decrease, the company reported an improvement in net operating cash flow per share (NOCFPS), which rose to Tk 12.19, compared to a negative Tk 31.28 in the previous year. This positive shift is attributed to higher revenue collection and reduced bank charges. However, a slight decline in net asset value per share was observed, primarily due to fluctuations in the market value of investments. These financial results highlight the challenges faced by Apex Foods in a competitive market while showcasing its efforts to enhance operational efficiency. [c2a272ab]

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