KUALA LUMPUR: Apollo Food Holdings Bhd
will explore expansion by developing new markets and new customer segments to maximise potential, deepen its market penetration, and increase sales, according to managing director Cheah Jia Ming.
“As we embark on our growth journey, we will be maintaining our listing status with a steadfast commitment to enhancing operational efficiency and an unwavering focus on product and service excellence,” he said in a statement.
Cheah said the group’s ability to generate strong operational cashflow, combined with its unleveraged balance sheet, positioning the group well to capitalise on suitable opportunities as they arise.
The manufacturing and distribution of chocolate confectionery products and layer cakes’ net profit surged to RM30.2mil in the third quarter ended Jan 31 compared with RM10.8mil achieved in the same period last year.
Its revenue for the quarter climbed 3.9% to RM73.8mil against RM71.1mil last year. Earnings per share for the period rose to 37.80 sen from 13.52 sen a year prior.
For the first nine months, Apollo’s net profit almost doubled to RM47.87mil from RM24.8mil while revenue grew to RM198.2mil from RM196.8mil a year earlier.
With the higher profitability and gains on disposal recognised during the quarter, Apollo declared a second interim dividend of 50 sen per share, payable on April 24, 2024.
Apollo closed down three sen to RM5.77 with 37,100 shares traded.
