QAF Limited

Right timing: STI stays intact, but Hong Fok is at extreme overbought high

SINGAPORE (Mar 23): Although quarterly momentum appears ambivalent as it is consolidating beneath its own moving average, prices are intact. They have established support at the confluence of the 50- and 200-day moving averages which are moving into an increasingly positive stance at 3,217 and 3,186 respectively. The index may well be able to regain its 50-day moving average as short term stochastics is turning up from the bottom of its range.

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.

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.

QAF posts 13% decline in 1Q earnings to $14.2 mil after partial divestment of Gardenia Bakeries KL

SINGAPORE (May 9): QAF, the multi-industry food company, reported earnings of $14.2 million for the first quarter ended March 31, 13% down from the $16.4 million reported in the same quarter a year ago on the back of lower revenue.

Revenue for the quarter fell 15% to $212.7 million from $250.9 million in the previous year, mainly due to the deconsolidation of financial results of Gardenia Bakeries (KL) Sdn Bhd (GBKL) as the group sold 205 of its shareholdings in April 2016, hence reducing its stake in GBKL’s total shareholdings to 50%.

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