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Apollo Food Holdings fiscal Q3 profit falls YOY

Apollo Food Holdings Bhd. said its normalized net income for the fiscal third quarter ended Jan. 31 was 6 Malaysian sen per share, a decrease of 32.7% from 9 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 5.0 million ringgits, a decline of 32.7% from 7.4 million ringgits in the year-earlier period.

The normalized profit margin fell to 9.7% from 13.0% in the year-earlier period.

Total revenue declined 10.1% year over year to 51.3 million ringgits from 57.1 million ringgits, and total operating expenses declined on an annual basis to 44.8 million ringgits from 46.3 million ringgits.

Reported net income fell 12.5% from the prior-year period to 7.2 million ringgits, or 9 sen per share, from 8.2 million ringgits, or 10 sen per share.

As of March 29, US$1 was equivalent to 4.00 ringgits.