KUALA LUMPUR: Apollo Food Holdings Bhd's net profit soared by 70 per cent to RM53.8 million in the financial year ended April 30 2024 (FY2024) from RM31.65 million registered a year ago.
Group revenue, however, declined to RM255.41 million from RM257.11 million, Apollo said in a filing to Bursa Malaysia.
Despite the slight moderation in revenue, the company's gross profit margin in 4Q FY2024 expanded to 28.0 per cent from 27.0 per cent a year ago.
Apollo and its subsidiaries are engaged in the manufacturing and distribution of chocolate confectionery products and layer cakes for both the domestic and export markets.
It has established a strong and recognisable brand name as one of the leading homegrown chocolate confectionary and layer cake products in Malaysia.
Apollo managing director Cheah Jia Ming said the company had achieved satisfactory results for FY2024, although sales for Q4 were impacted by two major festive holidays coinciding with its final financial quarter this year.
Since assuming leadership earlier this year, the new management had been focused on enhancing the core operations, he said.
Apollo is studying initiatives to increase efficiency and leverage its strong brand to develop new export markets and customer segments.
This includes manufacturing space rationalisation, upscaling automation and digitalisation to optimise overall productivity and efficiency.
"Beyond these internal enhancements, we will also proactively strengthen our distribution and marketing efforts to achieve deeper market penetration and capture a higher market share.
"We remain optimistic and confident of our journey. Our goal is to create a solid foundation for sustained growth and profitability," he said.