Apollo 4Q net profit falls 35% to RM3.8mil

KUALA LUMPUR: Apollo Food Holdings Bhd’s net profit tumbled 35% to RM3.83mil in the fourth quarter ended April 30, from RM5.88mil in the same period a year ago.

The confectionery manufacturer said the lower earnings were mainly due to higher raw materials costs and lower production capacity resulting from labour shortage for the current quarter and reversal of impairment loss on property, plant and equipment in the preceding year’s corresponding quarter.