QAF Q3 net down 11% on lower pork margins

WEAKER margins for an Australian pork producing subsidiary caused net profit at QAF Limited to slide 11 per cent to $3.8 million for its third quarter ended Sept 30 from $4.3 million a year ago.

But all business segments reported sales increases, boosting quarterly revenue by 4 per cent to $250.8 million, the maker of Gardenia bread said yesterday.

Bakery operations in Singapore, Malaysia, the Philippines and Australia launched new products and increased market shares, while other subsidiaries like trading and distribution company Ben Foods and cold storage facility NCS Cold Stores also increased sales.