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QAF's 1Q earnings down 79% to $3 mil on lower revenue, higher costs

Michelle Zhu
Michelle Zhu5/8/2018 06:12 PM GMT+08  • 2 min read
QAF's 1Q earnings down 79% to $3 mil on lower revenue, higher costs
SINGAPORE (May 8): QAF, the manufacturer of Gardenia sliced bread, reported earnings of $3 million for the 1Q18 ended March, down 79% from earnings of $14 million in 1Q17 on lower revenue and higher costs and expenses.
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SINGAPORE (May 8): QAF, the manufacturer of Gardenia sliced bread, reported earnings of $3 million for the 1Q18 ended March, down 79% from earnings of $14 million in 1Q17 on lower revenue and higher costs and expenses.

Revenue for the quarter fell 5% to $102.9 million from $105 million a year ago on lower contributions from the primary product and distribution & warehousing segments.

While the bakery segment achieved overall increase in sales, its EBITDA fell over the quarter due to higher operating costs and higher advertising and promotional expenses.

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