KUALA LUMPUR (Dec 4): Cash-rich Apollo Food Holdings Bhd’s (KL:APOLLO) net profit grew 6.7% year-on-year for the second quarter, supported by higher domestic and export sales.
In a filing with the exchange, the company announced that its net profit came in higher at RM10.62 million for the second quarter ended Oct 31, 2024 (2QFY2025), against RM9.95 million a year ago.
Revenue expanded 17.25% to RM77.34 million during the quarter under review, from RM65.96 million last year, mainly due to the increase in export sales, its bourse filing showed.
Earnings per share increased to 13.27 sen from 12.44 sen a year before.
The group, which is in a net cash position, declared a dividend of 30 sen for the quarter under review, payable on Dec 31. Apollo paid out 85 sen gross dividend per share in FY2024. Its cash pile stood at RM141.57 million as of Oct 31.
For the cumulative six-month period ended Oct 31, 2024 (1HFY2024), net profit grew 15.4% to RM20.29 million from RM17.59 million a year earlier, while revenue surged 20.2% to RM149.35 million from RM124.24 million.
On prospects, the confection maker said it remains focused on further strengthening its distribution networks and trade channels to achieve deeper market penetration and enhance Apollo’s brand visibility further.
“On the operational front, we are advancing plans to enhance efficiency and maximise output, with these upgrades to be implemented progressively over the coming quarters,” it said.
Meanwhile, Apollo also noted that the rising cost of raw materials and other input costs remain a key concern, and the group adopted a cautious outlook in the near term.
“In response, we are taking the necessary steps to mitigate these pressures, such as improving operational efficiencies, and streamlining processes,” adding that these measures are aimed at safeguarding margins while maintaining product quality and competitiveness.
Apollo’s share price closed unchanged at RM6.33 on Wednesday, valuing the group at RM506.40 million. Year-to-date, the stock has gained almost 10%.