QAF full-year profit up 49% to S$45.1m

Singapore

A SIGNIFICANT improvement in its pork business meant that QAF Limited reported a net profit of S$45.1 million for the full year ended Dec 31, 2014, up 49 per cent from S$30.2 million in 2013. Revenue was flat at S$1.02 billion. The company did not report a separate breakdown of its fourth-quarter results.

Higher net profit in 2014 was due to lower feed costs for the pork business as well as lower staff, depreciation and utilities costs.

QAF, which is also known for its Gardenia and Bonjour brands of bread, guided for a "comparable or a better level of profita…