QAF Forecasts Improved Profitability in H1

MT Newswires07-24

QAF (SGX:Q01) expects an increase in profit attributable to owners for the half-year ended June 30, compared with the same period last year, according to a Tuesday filing on the Singapore Exchange.

This improvement follows the reinstatement of its Malaysian factory production lines, which had been damaged by floods in December 2021.

The company has noted a required non-cash impairment of nearly SG$1.2 million related to its joint venture, Gardenia Bakeries. However, it has also recorded reduced foreign exchange translation losses for the first half.

The group will publish its financial results in August.

Shares of the company were up over 1% in recent trade.

Price (SGD): S$0.82, Change: S$+0.01, Percent Change: +1.24%

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