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Bangla companies hit by a pandemic collapse of demand

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Profit of several listed apparel companies in Bangladesh fell from July to September due to the drop in overseas demand due to the pandemic. Of the 56 textile and garment companies listed on the Dhaka Stock Exchange, 39 released their first quarterly financial report. Fifteen profits were lower than those recorded at the same time a year ago.

Nine companies that went into the black around the same time last year turned into the red. According to a top Dhaka-based English daily, the five have expanded their struggle to regain profits.

Export revenues in the textile sector for the July-September quarter were $ 3.88 billion, down 5.78% year-on-year, according to data from the Department of Export Promotion.

Of the total revenue from the garment sector, $ 4.46 billion came from the shipment of knit products, an increase of 7.04 percent.

Fiber2Fashion News Desk (DS)

Profit of several listed apparel companies in Bangladesh fell from July to September due to the drop in overseas demand due to the pandemic. Of the 56 textile and garment companies listed on the Dhaka Stock Exchange, 39 released their first quarterly financial report. Fifteen profits were lower than those recorded at the same time a year ago.



Bangla companies hit by a pandemic collapse of demand

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