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Apollo Food Holdings fiscal Q2 profit falls YOY

Apollo Food Holdings Bhd. said its normalized net income for the fiscal second quarter ended Oct. 31 came to 5 Malaysian sen per share, a decline of 18.3% from 7 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 4.4 million ringgits, a decline of 18.3% from 5.4 million ringgits in the year-earlier period.

The normalized profit margin dropped to 8.5% from 11.1% in the year-earlier period.

Total revenue rose 6.5% year over year to 51.4 million ringgits from 48.2 million ringgits, and total operating expenses grew 11.6% from the prior-year period to 45.2 million ringgits from 40.5 million ringgits.

Reported net income declined 27.1% from the prior-year period to 4.8 million ringgits, or 6 sen per share, from 6.6 million ringgits, or 8 sen per share.

As of Dec. 22, US$1 was equivalent to 3.50 ringgits.