SINGAPORE (Aug 8): QAF, the multi-industry food company, reported a 72% fall in 2Q17 earnings to $8.1 million from $28.8 million a year ago.

Revenue remained flat at $209.8 million compared to $208.4 million a year ago.

Profitability in the Bakery segment fell 29% to $5.5 million; profitability in the Primary Production segment fell 38% to $7.4 million while Trading & Logistics fell 25% to $0.9 million.

QAF says the group’s performance is expected to be affected by higher competition, currency volatility and increasing costs arising from higher raw material prices, higher energy costs and higher distribution cost in certain markets.

Staff Costs, Repairs and Maintenance and Utilities are expected to increase as a result of increased production activities.

Shares in QAF closed 0.5 cent lower at $1.30 on Tuesday.

QAF reports 72% fall in 2Q17 earnings to $8.1 mil

RHB keeps ‘buy’ on Prime US REIT with promising leasing momentum

Sarine gets an upgrade by DBS as growing trade revenues expect to lift margins

Analysts positive on Hyphens Pharma as 1Q results beat expectations

NTU and CSA launch a one-stop facility for cybersecurity evaluation and certification 

72% of organisations have had attacks on their backup repositories

Can automation help your company fight the Great Resignation?

Centurion acquires student accomodation in UK for $18 mil as market recovers

United Hampshire US REIT offers 'enticing' yield spread, UOB KH maintains 'buy'

China’s Stimulus Tops $5 Trillion as Covid Zero Batters Economy

Christian Selmoni of Vacheron Constantin gives us an insight into the success of the Maison

Tour de force: Star Wars events around the galaxy

See the latest from Hugo Boss, Bulgari and more

Hwa Hong to appoint independent reviewer to review internal processes 

It is easy to be right in the markets when the only way is up

This crypto winter will be long, cold and harsh

Grab narrows loss by 35% to US$435 million in 1QFY2022

SIA narrows losses significantly in FY2022 to $962.0 mil

China economy czar Liu He vows support for tech firms after crackdown

NetLink NBN Trust posts 1% increase in FY2022 DPU to 5.13 cents

Tech stocks are in a bear market, but they aren't cheap

In 1Q2022, Sembcorp Marine's cash flow, cash position and liquidity management improve as gearing drops 

Nio to begin trading on the SGX on May 20

RHB removes UOB, adds Venture Corp to its refreshed Singapore equity top picks

QAF reports 72% fall in 2Q17 earnings to $8.1 mil

Related Stories

Highlights

Grab narrows loss by 35% to US$435 million in 1QFY2022

Related Stories

QAF posts 47% drop in 1Q earnings to $1.6 mil on higher costs

Right timing: Blue-chips and STI test supports

QAF's 4Q earnings fall 96% to $2.1 mil on absence of one-off gain