Back 03 Jul 2025

QAF expects sharp drop in 1H2025 profit despite stable revenue, citing higher costs, forex losses and JV impairment

Link: https://links.sgx.com/1.0.0/corporate-announcements/1RK25XUG5HJW125Y/4fc3049b218353cb77695b0add31efb40a162228e276a9c1eeeeb9e9b1dddb71


Summary:

  • QAF Limited announced that it anticipates a material reduction in profit attributable to owners for 1H2025compared to 1H2024.

  • Group revenue for the first half of 2025 is expected to be broadly similar to the same period last year.

  • Lower profit mainly driven by:

    • Higher operating costs.

    • Unfavourable foreign exchange movements against the Singapore Dollar.

    • A larger non-cash impairment on its investment in joint venture Gardenia Bakeries (KL) Sdn Bhd.

  • The Group is finalising its results, which remain subject to the Audit and Risk Committee and Board approval.

  • Full details and commentary will be provided when QAF releases its 1H2025 results in August 2025.

  • Shareholders are advised to exercise caution when trading QAF shares and seek professional advice if needed.