KUALA LUMPUR: The trading stock of Apollo Food Holdings Bhd
jumped 23 sen or 5.9% to RM4.13 a share at the opening bell following the release of a positive financial performance.
In a filing with Bursa Malaysia, the confectionery manufacturer posted a net profit of RM10.82mil for its third financial quarter ended Jan 31, 2023, which was more than double net profit of RM5.08mil in the same quarter in 2022.
The group's revenue rose to RM71.08mil from RM54.28mil during the quarter on improved sales.
Cumulatively, Apollo recorded a net profit of RM24.84mil over the three financial quarters on revenue of RM196.84mil, as compared to net profit of RM6.14mil and revenue of RM130.92mil in 9MFY22.
"The group is optimistic that it will continue to achieve satisfactory results through implementation of prudent measures and improvement in operational efficiency with focus on product and service quality," it said.
