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Their bakery profit margin is much better than primary production (pork business).
So no need to worry too much
So no need to worry too much
Siwomp ( Date: 11-Aug-2020 09:51) Posted:
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Haha $9+ valuation for QAF,more than Wilmar or Olam.
Cons:
-Illiquid stock
-Earnings have declined by 25.5% per year over the past 5 years.Business/profit is good now due to Covid-19 similar to SS and Wilmar.With gradual lifting of movement restrictions and vaccine available in a years time or so, growth will not be exponential like now.
-Dividend of 6.41% is not well covered by earnings.Probably payout using their bank borrowings.
-Not much analysts coverage even my stock apps have zero data/ news development on this counter.
Cons:
-Illiquid stock
-Earnings have declined by 25.5% per year over the past 5 years.Business/profit is good now due to Covid-19 similar to SS and Wilmar.With gradual lifting of movement restrictions and vaccine available in a years time or so, growth will not be exponential like now.
-Dividend of 6.41% is not well covered by earnings.Probably payout using their bank borrowings.
-Not much analysts coverage even my stock apps have zero data/ news development on this counter.
jpower2015 ( Date: 10-Aug-2020 23:20) Posted:
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Bro this stock not for trading lah / so low volume .
Buy n hold type ....once result good ...up 10c.
Can u imagine the sale of its meat plant in Aus where GLOBAL demand is high and gd healthy pork supply is so low ?
Dyodd
Buy n hold type ....once result good ...up 10c.
Can u imagine the sale of its meat plant in Aus where GLOBAL demand is high and gd healthy pork supply is so low ?
Dyodd
Siwomp ( Date: 11-Aug-2020 09:22) Posted:
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so illiquid, how to play?
Certainly a good set of result and expectation of more Qtr of profit coming up .
Pandemic has turn this stock back to live . Bk value is 0.8823 .....hitting 0.90 is not a issue as volume is normally low.
Not forgetting management has first time confirm the SALE of its meat division in Aus for 2H ...( why so sure ? )
Dont tell me they are alrady in discussion w buyers.
DYODD
Happy investing .
Pandemic has turn this stock back to live . Bk value is 0.8823 .....hitting 0.90 is not a issue as volume is normally low.
Not forgetting management has first time confirm the SALE of its meat division in Aus for 2H ...( why so sure ? )
Dont tell me they are alrady in discussion w buyers.
DYODD
Happy investing .
How much is the " good price" in your mind?
TheDuellist ( Date: 11-Aug-2020 08:47) Posted:
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Anybody Sell on news?
I guess I will hold. Unless the price is really really good.
I guess I will hold. Unless the price is really really good.
Sound funny on the valuation but no harm just read for fun
https://simplywall.st/stocks/sg/food-beverage-tobacco/sgx-q01/qaf-shares
https://simplywall.st/stocks/sg/food-beverage-tobacco/sgx-q01/qaf-shares
Yup! Wrong track
Starship ( Date: 08-Aug-2020 19:55) Posted:
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Think you' re referring to AGT and not to QAF. 
spore1 ( Date: 08-Aug-2020 19:52) Posted:
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At least slightly better deal. Approximately, 76-78 cents( inclusive of Special reserve dpu )
QAF multiplies H1 earnings 13 times to S$28.2 million
FRI, AUG 07, 2020 - 7:30 PM
WITH a pandemic-fuelled bread boom, QAF, the maker of Gardenia bread, has multiplied its net profit 13 times on-year to S$28.2 million for the six months ended June.
Revenue for H1 was up 10 per cent to S$462.6 million, driven by a strong showing in all three segments: bakery, primary production, and distribution and warehousing.
Sales in the bakery unit rose 23 per cent to S$220.7 million for H1, as Gardenia enjoyed higher demand during the Covid-19 pandemic in Singapore, Malaysia and the Philippines. QAF also changed its product mix and production scheduling to maintain cost efficiency and profitability.
The surge was partly dampened by lower sales of Bakers Maison Australia, as food service outlets were hit by the lockdown period.
Nevertheless, with better plant utilisation and more streamlined production, the bakery segment&rsquo s Ebitda (earnings before interest, taxes, depreciation and amortisation) rose 113 per cent to S$43.1 million.
Distribution and warehousing revenue was similarly robust, rising by 13 per cent to S$60 million, mainly contributed by higher domestic sales to retail supermarkets and exports.
QAF also enjoyed a 75 per cent rise in other interest income to S$5.3 million, on the back of one-off government grants of $3.5 million to cope with the pandemic.
The primary production segment was more tepid, with revenue remaining flat. Despite a lower sales volume, the segment benefited from higher average selling prices, given the tightening of general market supply, lower grain prices and better performance from its pork processing business.
Commodity prices shone in favour of QAF. Pork prices were 12 per cent higher than a year ago. Meanwhile, flour prices were stable and grain prices were lower, bringing down the overall cost of materials by 1 per cent to S$230 million.
However, QAF will be launching a sale process for its primary production arm in H2, so that it can better focus on the remaining two units.
&ldquo Following nearly 20 years of ownership by QAF, the primary production business is now an ideal platform and has reached the necessary scale for a new owner with a strong focus on the animal protein segment to bring it to its next growth phase,&rdquo QAF said.
It expects its bakery business to eventually normalise from H2, with the reopening of businesses. &ldquo As such, the group&rsquo s focus continues to be on sustainable long-term growth,&rdquo it said.
To increase its product range in Malaysia, QAF&rsquo s joint venture GBKL will add a new line at Bukit Kemuning. Investment for plant and equipment will be mainly funded by external bank loans and the remaining by internal resources.
An additional bread line at Farmland Malaysia to supply both Malaysia and Singapore markets, alongside an upgrade to the bread production lines in Singapore are currently being studied.
https://www.businesstimes.com.sg/companies-markets/qaf-multiplies-h1-earnings-13-times-to-s282-million
FRI, AUG 07, 2020 - 7:30 PM
WITH a pandemic-fuelled bread boom, QAF, the maker of Gardenia bread, has multiplied its net profit 13 times on-year to S$28.2 million for the six months ended June.
Revenue for H1 was up 10 per cent to S$462.6 million, driven by a strong showing in all three segments: bakery, primary production, and distribution and warehousing.
Sales in the bakery unit rose 23 per cent to S$220.7 million for H1, as Gardenia enjoyed higher demand during the Covid-19 pandemic in Singapore, Malaysia and the Philippines. QAF also changed its product mix and production scheduling to maintain cost efficiency and profitability.
The surge was partly dampened by lower sales of Bakers Maison Australia, as food service outlets were hit by the lockdown period.
Nevertheless, with better plant utilisation and more streamlined production, the bakery segment&rsquo s Ebitda (earnings before interest, taxes, depreciation and amortisation) rose 113 per cent to S$43.1 million.
Distribution and warehousing revenue was similarly robust, rising by 13 per cent to S$60 million, mainly contributed by higher domestic sales to retail supermarkets and exports.
QAF also enjoyed a 75 per cent rise in other interest income to S$5.3 million, on the back of one-off government grants of $3.5 million to cope with the pandemic.
The primary production segment was more tepid, with revenue remaining flat. Despite a lower sales volume, the segment benefited from higher average selling prices, given the tightening of general market supply, lower grain prices and better performance from its pork processing business.
Commodity prices shone in favour of QAF. Pork prices were 12 per cent higher than a year ago. Meanwhile, flour prices were stable and grain prices were lower, bringing down the overall cost of materials by 1 per cent to S$230 million.
However, QAF will be launching a sale process for its primary production arm in H2, so that it can better focus on the remaining two units.
&ldquo Following nearly 20 years of ownership by QAF, the primary production business is now an ideal platform and has reached the necessary scale for a new owner with a strong focus on the animal protein segment to bring it to its next growth phase,&rdquo QAF said.
It expects its bakery business to eventually normalise from H2, with the reopening of businesses. &ldquo As such, the group&rsquo s focus continues to be on sustainable long-term growth,&rdquo it said.
To increase its product range in Malaysia, QAF&rsquo s joint venture GBKL will add a new line at Bukit Kemuning. Investment for plant and equipment will be mainly funded by external bank loans and the remaining by internal resources.
An additional bread line at Farmland Malaysia to supply both Malaysia and Singapore markets, alongside an upgrade to the bread production lines in Singapore are currently being studied.
https://www.businesstimes.com.sg/companies-markets/qaf-multiplies-h1-earnings-13-times-to-s282-million
QAF' s H1 profit jumps 13 times to S$28.2 million
H1 revenue up 10%, driven by strong showing in segments including bakery, primary production
THE dough has risen for QAF, the maker of Gardenia bread, as its net profit multiplied 13 times on-year to S$28.2 million for the six months ended June.
Revenue for H1 was up 10 per cent to S$462.6 million, driven by a strong showing in all three segments: bakery, primary production, and distribution and warehousing. Sales in the bakery unit rose 23 per cent to S$220.7 million for H1, as Gardenia enjoyed higher demand during the Covid-19 pandemic in Singapore, Malaysia and the Philippines. QAF also changed its product mix and production scheduling to maintain cost efficiency and profitability. The surge was partly dampened by lower sales of Bakers Maison Australia, as food service outlets were hit by the lockdown period.
Distribution and warehousing revenue was similarly robust, rising by 13 per cent to S$60 million, mainly contributed by higher domestic sales to retail supermarkets and exports.
QAF also enjoyed a 75 per cent rise in other interest income to S$5.3 million, on the back of one-off government grants of $3.5 million to cope with the pandemic.
The primary production segment was more tepid, with revenue remaining flat. Despite a lower sales volume, the segment benefited from higher average selling prices, given the tightening of general market supply, lower grain prices and better performance from its pork processing business.
Commodity price shone in favour of QAF. Pork prices were 12 per cent higher than a year ago. Meanwhile, flour prices were stable and grain prices were lower, bringing down the overall cost of materials by one per cent to S$230 million.
However, QAF will be launching a sale process for its primary production arm in H2, so that it can better focus on the remaining two units.
" Following nearly 20 years of ownership by QAF, the primary production business is now an ideal platform and has reached the necessary scale for a new owner with a strong focus on the animal protein segment," QAF said.
The firm also expects its bakery business to eventually normalise from H2, with the re-opening of businesses.
To increase its product range in Malaysia, QAF' s joint venture GBKL will add a new line at Bukit Kemuning. Investment for plant and equipment will be mainly funded by external bank loans and the remaining by internal resources. An additional bread line at Farmland Malaysia to supply both Malaysia and Singapore markets, alongside an upgrade to the bread production lines in Singapore are currently being studied.
The devil is in the details. Pls read the full detail in the manilastandard.net website provided by the company. It says that the bakery production is fully automated. In other words, it will not be affected by COVID-19. It also means less staff needed (less overheads). It also mention the strong demand would extend until year end. What I share here is not exhaustive. Read the news for more details.
jpower2015 ( Date: 07-Aug-2020 20:41) Posted:
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Interim dividend 1c tba later.
Debt 59.1m at end of 1st half 2020,still high.
Nothing spectacular after all.
Debt 59.1m at end of 1st half 2020,still high.
Nothing spectacular after all.
This type of peanut news need halt two days?? Ridiculous
Something brewing good still hidden, my 2cents
Something brewing good still hidden, my 2cents
Starship ( Date: 07-Aug-2020 18:14) Posted:
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Huat ah!
No $3 no sell
No $3 no sell
That' s the way I like it. Closely guarded results without insider intervention. If there is, hardly noticeable. There was a moment I thought I bought a dud. But in the end, it turns out well.
Continue to hold.
Continue to hold.
Wah piang. Miss it.
Annualise it the EPs 0.1
X15 pe is $1.50
Annualise it the EPs 0.1
X15 pe is $1.50