Apollo’s 4Q net profit up 6%, declares 20 sen dividend

TheEdge Thu, Jul 02, 2020 02:52pm - 3 years View Original


KUALA LUMPUR (July 2): Confectionery producer Apollo Food Holdings Bhd declared a first and final dividend of 20 sen per share, to be paid on Jan 12, 2021, in a filing to Bursa Malaysia today.

On June 29, the group said its net profit for the fourth quarter ended April 30 (4QFY20) rose 6.19% to RM3.89 million, versus RM3.67 million a year earlier.

Earnings per share increased to 4.87 sen from 4.59 sen previously.

Apollo said its revenue fell 8.77% year-on-year to RM43.39 million from RM47.57 million, mainly due to decrease in sales caused by the Movement Control Order imposed by the government starting from March 18 to curb the Covid-19 pandemic.

For the full year (FY20), the group's net profit, however, dropped 18.26% to RM14.24 million from RM17.43 million a year ago. Revenue also fell 7.36% to RM174.93 million from RM188.84 million in FY19.

Commenting on the prospects, the board expects a slowdown in the local and global economy.

Looking ahead, the group expects its operating environment to be more challenging in both the current and coming financial years.

“The group will implement prudent measures and improve operational efficiency to sustain the business and results,” it said.

Shares in Apollo were unchanged at RM3.32 at noon market break, valuing the group at RM265.6 million. It saw 7,000 shares traded.

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