QAF Gardenia brand, Chart with Support and Resistance

QAF business:
1. Bakery,
2. Primary Production,
3. Trading & Logistics
4. Investments & Others.

The company is perhaps best known by consumers in Singapore for its Gardenia brand of breads found commonly in grocery stores.
Geographically, the majority of QAF’s revenue comes from Singapore, Malaysia, Australia, and the Philippines.

7 Mar 2017

Aug 2016

Revenue of S$208.4 million, a 17% year-on-year decline from S$252.4 million a year ago.
Profit surged by 136% to S$28.8 million.
(One-off gain of S$9.7 million, but even if that was stripped out, the company’s profit before tax would still have increased by 29.6% from S$15.9 million in the Q2 of 2015 to S$20.6 million in the reporting quarter)

Oct 2016
Revenue of $212.4 million, a 13% decline from a year ago.
Profit was up 84% to $19.4 million. The improvement came on the back of lower operating expenses and the inclusion of share of profits of its joint venture.


Jan 2017
FY16 earnings more than doubled to $120.4 million from $52.5 million a year ago after the group recorded an exceptional gain of $59.4 million from the sale of a 20% stake in GBKL in April.

The group also recognised share of profits of JV of $6.4 million in FY16 due to the group's share of profits of the remaining 50% stake GBKL since April.

Group revenue fell 11% fall to $889.5 million, mainly due to the deconsolidation of financial results of GBKL after the stake sale. However, increases in sales were achieved by all business segments of the group - Bakery, Primary Production and Trading & Logistics.

Sales revenue from the Bakery segment decreased 26% to $379.8 million. The Primary Production segment, which consists of Rivalea, an integrated meat production business in

Australia, saw revenue rise 6% to $398.2 million. Sales revenue for Trading & Logistics rose 1% to $106.1 million.