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Apollo Food Holdings fiscal Q2 profit climbs YOY

Apollo Food Holdings Bhd. said its normalized net income for the fiscal second quarter ended Oct. 31 came to 11 Malaysian sen per share, an increase from 5 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 9.1 million ringgits, an increase from 4.4 million ringgits in the prior-year period.

The normalized profit margin rose to 16.8% from 8.5% in the year-earlier period.

Total revenue grew on an annual basis to 53.8 million ringgits from 51.4 million ringgits, and total operating expenses declined 11.1% from the prior-year period to 40.1 million ringgits from 45.2 million ringgits.

Reported net income increased from the prior-year period to 9.6 million ringgits, or 12 sen per share, from 4.8 million ringgits, or 6 sen per share.

As of Dec. 30, US$1 was equivalent to 4.31 ringgits.