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Legacy Footwear Q1 profit falls YOY

Legacy Footwear Ltd. said its first-quarter normalized net income was 3 poisha per share, a decrease of 12.3% from 4 poisha per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 369,780 taka, a decrease of 8.8% from 405,440 taka in the prior-year period.

The normalized profit margin fell to 1.2% from 1.4% in the year-earlier period.

Total revenue grew on an annual basis to 30.2 million taka from 29.7 million taka, and total operating expenses climbed on an annual basis to 24.2 million taka from 23.8 million taka.

Reported net income declined 8.8% year over year to 480,710 taka, or 4 poisha per share, from 527,070 taka, or 5 poisha per share.

As of May 12, US$1 was equivalent to 77.92 taka.