“[This] is attributable to an exceptional item relating to the receipt of approximately $9.6 million, being the first interim insurance payment under the group’s insurance policy covering damage to its property, plant and equipment in connection with the severe flooding at one of the group’s Malaysian factories,” says QAF.
Multi-industry food company QAF has issued a profit guidance for its results in 1HFY2022 ended June. The company expects “a significant improvement” in profit both before and after tax, with the results to be announced in August.
In a Singapore Exchange (SGX) filing on July 20, QAF attributes the “significant improvement” to an insurance payout for flood damage to one of the group’s Malaysian factories.
