, Singapore
Photo from Freepik

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

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!