QAF Ltd.
SSGX:Q010.91
SGD
+0.00
(-0.55%)
ISIN
SG1A49000759
Return %
Stock
S&P 500
1Y
1.68
14.20
3Y
10.30
81.12
5Y
3.41
68.34
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Semi-annual Revenue
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in mil. unless spec.Semi-annual Earnings Per Share
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in mil. unless spec.Semi-annual Dividends Per Share
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in mil. unless spec.Company Description
- CEO
- Michael Darren Hewat
- Full Time Employees
- 10,236
- Sector
- Consumer non-durables
- Industry
- Food: specialty/candy
- Address
- No. 09-03 Fook Hai Building Singapore CE Singapore 058727
- IPO Date
- Jul 21, 2009
- Website
- qaf.com.sg
- Similar Companies
- Business
- QAF Limited is an investment holding company engaged in the manufacture and distribution of bread, bakery, and confectionery products; trading and distribution of food and beverage products; and provision of warehousing logistics services for food items. The company operates through Bakery, Distribution and Warehousing, and Investments and Others segments, with core offerings including frozen and par-baked breads and pastries; bread and kaya spreads under the Delicia and Cowhead brand names; and cold storage warehousing services. Its key brands encompass Gardenia, Farmvale, and others, produced across approximately 16 factories in Singapore (2), the Philippines (5), Malaysia (8), and Australia (1), serving over 81,000 third-party outlets via around 2,100 distribution routes and 2,000 trucks. QAF Limited maintains an extensive distribution network across the Asia-Pacific region, including Singapore, Malaysia, the Philippines, Australia, Myanmar, Cambodia, Hong Kong, Taiwan, Macau, Brunei, Indonesia, Vietnam, Laos, and Bangladesh, where it employs more than 10,000 people. Principal subsidiaries include Gardenia Foods (S) Pte Ltd, Gardenia Bakeries (Philippines) Inc., Gardenia Sales & Distribution Sdn Bhd, Everyday Bakery & Confectionery Sdn Bhd, Bakers Maison Pte Ltd, and Ben Foods (S) Pte Ltd, with a 50% stake in joint venture Gardenia Bakeries (KL) Sdn Bhd. The company targets consumer markets with staple and innovative bakery products, leveraging over 40 key brands and approximately 20 overseas distributors. Founded in 1958 and headquartered at 150 South Bridge Road #09-03 Fook Hai Building, Singapore, QAF Limited (formerly Ben and Company Limited until 1984) listed on the Singapore Exchange (SGX: Q01.SI) and generates revenue primarily from Singapore (72%), the Philippines (8%), Australia (12%), and other regions (8%). In FY2024 ended December 31, the group achieved revenue of $636.1 million (up 1% year-on-year), EBITDA before exceptional items of $59.6 million (up 24%), and profit attributable to owners of $34.7 million (up 26%), supported by cost management, product mix adjustments, and new product introductions amid moderating inflation and consumer price sensitivity. Recent developments include finalization of insurance claims totaling $6.4 million related to the December 2021 flood at a Malaysian factory, a reduced non-cash impairment of $1.2 million on its Gardenia Bakeries (KL) Sdn Bhd joint venture investment (versus $9.5 million in FY2023), and classification of certain Singapore bakery assets as held for sale with a $1.9 million impairment. The group expanded distribution channels, pursued long-shelf-life trading products in new regions, and maintained a strong net cash position of $177 million, enabling a proposed final dividend of $0.04 per share (total FY2024 dividend $0.05 per share).