Apollo Food: Adverse price fluctuations of raw materials remain a concern

PETALING JAYA: Apollo Food Holdings Bhd (AFHB) remains cautious on its outlook for the rest of the financial year, as it expects adverse price fluctuations of raw materials to remain a key concern.

In a filing with Bursa Malaysia, the group, which markets compound chocolates, chocolate confectionery products and cakes, said it will closely monitor the situation and continue to implement strategies to cushion these risks.

For the first quarter ended July 31, 2024, AFHB’s net profit rose to RM9.68mil from RM7.64mil in the previous corresponding period, mainly due to higher domestic and export sales in the current quarter.

Revenue grew to RM72mil from RM58.28mil a year earlier, mainly due to increase in both domestic and export sales.

Basic earnings per share stood at 12.10 sen versus 9.55 sen previously.

Despite global macro uncertainties that continue to pose headwinds, AFHB said it is committed to fortifying its core operations and staying vigilant in navigating the uncertainties to deliver sustainable long-term growth.

“Barring unforeseen circumstances, the board expects satisfactory results for the financial year ending April 30, 2025.