QAF is expected to record a non-cash impairment of approximately $9.2 million in its 1HFY2023 results, which will be recognised as part of its share of JV profits or losses.
Multi-industry food company QAF is expecting to report a drop in profit before and after tax for the 1HFY2023 period ended June 30, compared to the corresponding period in the year before.
In a profit guidance filing, QAF says the drop in profit for the 1HFY2023 is based on a review to-date of the unaudited consolidated financial results for the half-year period, which included a periodic assessment of the recoverable amount of the group’s investment in its joint venture (JV) Gardenia Bakeries KL (GBKL).
