Pork segment boosts QAF's Q2 earnings

MULTI-FOOD group QAF Ltd, the makers of Gardenia bread, posted a trebling in second-quarter net profit to S$9.32 million, from S$3.1 million a year ago.

The April-June surge in profit attributable to equity-holders is thanks to higher profitability from its Rivalea pork business. Rivalea, the largest producer of pork in Australia and the Australasian region, achieved greater profits thanks to a better product mix combined with a higher overall selling price.

QAF's trading and logistics business also brought in higher profits due to increased sales from its food trading activities, as well as higher rental income from its cold storage operations.