KUALA LUMPUR (March 24): Apollo Food Holdings Bhd’s net profit for the third quarter ended Jan 31, 2020 declined 12.19% to RM3.98 million from RM4.54 million a year ago, due to higher administrative expenses, foreign exchange loss and fair value loss incurred.

Earnings per share for the quarter fell to 4.98 sen from 5.68 sen previously, the confectionary manufacturer said in a filing today.

Revenue for the quarter dipped 4.87% to RM48.93 million, from RM51.44 million the previous year.

For the nine months ended (9MFY20), Apollo’s net profit fell 24.77% to RM10.35 million, from RM13.75 million a year ago, as revenue fell 6.8% to RM131.54 million from RM141.26 million.

Apollo expects its operating environment to be more challenging in both the current and coming financial years, in view of the volatility in raw material costs and weak ringgit. 

Shares of Apollo closed 10 sen or 3.9% higher at RM2.66 today, valuing the group at RM213 million.

Source

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