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.