- Established in 1958 and listed on the SGX in 1967, QAF (SGX:Q01) is Singapore’s largest packaged bread manufacturer as of end 2021, according to NielsenIQ.
- QAF is primarily engaged in the production and distribution of bakery products (76% of FY21 revenue), owning several renowned bakery brands including Gardenia and Bakers Maison. To support its core operations, QAF operates 16 factories located across Australia, Malaysia, the Philippines and Singapore as at end 2021. QAF also offers food distribution services and cold storage warehousing services.
Steady bakery growth since FY17
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
- QAF predominantly sells its products via physical retailers (e.g. supermarkets, groceries), but has steadily grown its presence on online channels since the onset of COVID-19 in 2020.
Key challenges: Malaysia factory shutdown, elevated flour prices
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
Kenneth TAN CGS-CIMB Research | https://www.cgs-cimb.com 2022-11-24
Price targets by other brokers at QAF Target Prices.
Listing of research reports at QAF Analyst Reports.
Relevant links:
QAF Share Price History,
QAF Announcements,
QAF Dividends & Corporate Actions,
QAF News Articles
