KUALA LUMPUR (Dec 23): Apollo Food Holdings Bhd has emerged as the top gainer early on Friday (Dec 23), after the confectionery maker posted a strong quarterly net profit for the second quarter ended Oct 31, 2022 (2QFY2023), boosted by strong sales and low base effect.
Apollo’s share price increased 26 sen or 7.14% to a high of RM3.90, from the previous day's close of RM3.64.
It then pared its gains to RM3.85 at the time of writing — still up 21 sen or 5.77% — with some 114,200 shares traded.
At the current price, Apollo has a market capitalisation of RM308 million.
Apollo’s net profit surged over 10 times to RM9.46 million in 2QFY2023 from RM888,000 in the same quarter last year as revenue jumped 87% to RM70.3 million from RM37.64 million.
For 1HFY2023, the group’s net profit grew to RM14.02 million from RM1.06 million, with revenue rising to RM125.76 million from RM76.65 million.