SUBSCRIBERS
QAF's FY profit up 17%; sales hit by exchange rate
Published Wed, Feb 24, 2016 · 09:50 PM
Singapore
SINGAPORE-listed QAF, which bakes bread under the Gardenia label as well as other pastries, posted a 17 per cent jump in net profit to S$52.5 million for the year ended December 2015 from S$45.08 million a year ago.
Revenue came in marginally lower by 2 per cent at S$998.3 million from S$1.02 billion, mainly owing to the translation effect of the higher Singapore dollar versus the currencies of countries where it operates.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Barclays says it’s winning Asia banking business from US firms
China central bank wants to halt bond-buying spree, not join it
Gold holds steady as investors focus on US Fed meeting
Singapore shares open in the red on Tuesday; STI down 0.3%
Huawei’s pivotal role in the US-China tech war, from 5G to chips
CDL Hospitality Trusts reports 6.8% higher Q1 net property income of S$34.9 million