Gardenia maker QAF Limited sees 154% PATMI increase as tax costs decrease

Income tax expense dropped 28% YoY to $1.7m to $.4.4m in H1.

Gardenia maker QAF Limited's profit after tax and minority interests (PATMI) soared by 154% YoY to $12.5m in H1 2024, fueled by lower income tax expenses.

Income tax expense dropped 28% YoY to $1.7m to $.4.4m in H1.

Apart from higher PATMI, the company also reported a 3.0% YoY higher revenue of $309.2m.

QAF Limited attributed its improved revenue to the successful reinstatement of the production lines at its Malaysian bakery factory damaged by floods in December 2021. Its Malaysian Bakery sales increased by $9.1m in H1.

Follow the link for more news on

Financial Statements

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia