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.
Revenue, however, rose 6% to RM57.34mil against RM54.1mil a year prior, due to higher selling prices.
Apollo’s board has proposed a first and final single-tier dividend in respect of the financial year ended April 30 of 15 sen per ordinary share.
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