Apollo Food Holdings released its Q3 financial results achieving a revenue of RM73.9 million, representing a 4% year-
on-year growth compared to the similar quarter of the preceding year. After factoring in a gain on the disposal of property amounting to RM18.6 million, the group’s net profit grew by 179% to RM30.2 million.
For the nine months cumulative period (“9M FY2024”), the Group achieved revenue of RM198.2 million and net profit of RM47.8 million. With the higher profitability and gains on disposal recognised during the quarter, the Company declared a second interim dividend of 50 sen per share, payable on 24 April 2024. The board has considered the Group’s future cash flow, working capital requirements and capital investment plans to strike a balance between reinvestment for growth and rewarding shareholders. Even after this distribution, the Group maintains a healthy cash position, which reinforces our ability to support growth plans.
Managing Director of Apollo, Mr. Cheah Jia Ming said: “The Group achieved commendable performance for the nine months ended 31 January 2024 despite soft consumer spending sentiments, owing to the strength of our brands and product
pricing strategies. Without the gain on disposal of properties, our performance for the nine-month period was still ahead of last year.
The group is exploring expansion by developing new markets and new customer segments to maximise potential, deepen its market penetration, and increase sales.
