QAF 2014 net profit up 49% to S$45.1m

QAF Limited, a listed pork producer and Gardenia bread baker, reported a net profit of S$45.1 million for the full year ended December 31, 2014, up 49 per cent from S$30.2 million in 2013. Revenue was flat at S$1.02 billion.

The company declared a final dividend of 4 Singapore cents a share, unchanged from a year ago.

The company did not report a separate breakdown of its fourth-quarter results.

Higher net profit was driven by QAF's subsidiary Rivalea, a pork production business in Australia that includes feed milling, farming and production, meat cutting and deboning, and distribution. Rivalea enjoyed higher selling prices, productivity gains and lower material costs.

QAF ended trading at S$1.04, up half a cent, before results were released.