QAF's 3Q earnings fall 62% to $7.5 mil on higher costs & expenses

SINGAPORE (Nov 10): Multi-industry food company QAF saw its earnings fall 62% to $7.5 million for 3Q17 compared to $19.4 million of earnings a year ago on higher costs and expenses.

Revenue for the quarter remained flattish at $212 million due to its Bakery operations in Singapore/Johor being affected by startup issues in the new Johor plant, as well as lower revenue from the Primary Production segment due to lower selling prices and increased competition.