QAF's FY profit up 17%; sales hit by exchange rate
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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.
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