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Apollo Food Holdings fiscal Q1 profit climbs 55.8% YOY

Apollo Food Holdings Bhd. said its normalized net income for the fiscal first quarter ended July 31 was 10 Malaysian sen per share, a gain of 55.8% from 6 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.1 million ringgits, a gain of 55.8% from 5.2 million ringgits in the prior-year period.

The normalized profit margin increased to 16.2% from 10.0% in the year-earlier period.

Total revenue fell on an annual basis to 49.9 million ringgits from 51.6 million ringgits, and total operating expenses fell 14.3% year over year to 37.7 million ringgits from 44.0 million ringgits.

Reported net income rose 95.7% on an annual basis to 11.2 million ringgits, or 14 sen per share, from 5.7 million ringgits, or 7 sen per share.

As of Aug. 27, US$1 was equivalent to 4.19 ringgits.