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Apollo Food Holdings fiscal Q1 profit falls YOY

Apollo Food Holdings Bhd. said its normalized net income for the fiscal first quarter ended July 31 was 6 Malaysian sen per share, a decline of 40.5% from 11 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 5.2 million ringgits, a decline of 40.5% from 8.7 million ringgits in the year-earlier period.

The normalized profit margin declined to 10.0% from 15.1% in the year-earlier period.

Total revenue decreased 10.2% year over year to 51.6 million ringgits from 57.5 million ringgits, and total operating expenses totaled 44.0 million ringgits, compared with 44.2 million ringgits in the prior-year period.

Reported net income fell 46.6% on an annual basis to 5.7 million ringgits, or 7 sen per share, from 10.7 million ringgits, or 13 sen per share.

As of Aug. 28, US$1 was equivalent to 3.15 ringgits.