KUALA LUMPUR (Sept 7): Apollo Food Holdings Bhd’s net profit for the first quarter ended July 31, 2023 (1QFY2024) rose 67.51% to RM7.64 million from RM4.56 million in the same quarter a year earlier, on the back of higher sales.

Earnings per share rose to 9.55 sen compared with 5.7 sen previously, according to the confectionary maker’s bourse filing on Thursday.

Quarterly revenue increased 5.19% to RM58.34 million versus RM55.46 million a year ago due to higher sales revenue.

The company declared a first interim dividend of 20 sen per share with an ex-date of Oct 17, to be paid on Nov 3. It paid 10 sen per share in the same period last year, out of the total 25 sen per share paid out in FY2023.

Commenting on its prospects for FY2024, Apollo said that via the implementation of prudent measures and improvement of operational efficiency, the group is confident that it will continue to achieve satisfactory results.

Shares in Apollo closed two sen or 0.45% higher at RM4.42, giving the company a market capitalisation of RM353.6 million.