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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Gold prices set for weekly decline ahead of US inflation data
Huawei’s new phone sports latest version of made-in-China chip
Meta’s earnings flop sparks US$400 billion sell-off in tech stocks
Singapore shares open lower on Friday; STI down 0.1%
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2
Roku’s warning on ad-supported streaming competition clouds upbeat earnings