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QAF expects jump in Q4 earnings on better primary business performance

BREAD manufacturer QAF said on Tuesday that it expects to report a significant improvement in both pre-tax profit and net profit inFY2019 compared to FY2018, due mainly to the performance of its primary production business.

It estimates that fourth-quarter net profit for the three months ended Dec 31, 2019 will reach S$22.7 million, up 435.5 per cent from S$4.2 million in the fourth quarter of 2018. Revenue is expected to rise 5.2 per cent to S$224.4 million.

Net profit for the 2019 full year is estimated to be S$28.2 million, up 226.1 per cent from S$8.7 million in 2018. Full-year revenue is expected to rise 6 per cent to S$863.9 million. 

These estimates are based on the review to-date of QAF's unaudited consolidated financial results for the financial year ended Dec 31, 2019.

In an announcement dated Nov 7, 2019 relating to its third-quarter results, QAF had stated that barring unforeseen circumstances, the group expects to achieve better performance in 2019 compared to 2018.

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The company said it will report its FY2019 results later this month, though it did not give a specific date.

QAF shares rose half a Singapore cent or 0.64 per cent to S$0.785 on Tuesday.

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