Fistein
06-17

$QAF(Q01.SI)$ 1.5 Target Price. 

QAF Limited (SGX: Q01) is the food group behind household bread brands Gardenia and Bonjour, with operations across Singapore, Malaysia, the Philippines, and Australia.

  As at 31 December 2025, QAF held S$214.1 million in cash against just S$4.8 million in debt (excluding lease liabilities). That's a net cash position exceeding S$209 million.

For FY2025, QAF maintained its total payout at $0.05 per share, unchanged till now

Revenue held steady at S$633.6 million, while net profit rose 15% year on year (YoY) to S$39.8 million.

 The profit lift was partly powered by QAF's Malaysian joint venture, Gardenia Bakeries (KL), whose contribution surged from S$4.7 million to S$15.4 million.

 With over S$209 million in net cash on its balance sheet, QAF's steady dividend instill stalkholders confidence that the company will sustain long-term growth in the consumer staples sector. 

Modified in.06-18
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Comments

  • bubblyx
    06-17
    bubblyx
    Net cash at S$209m is the real cushion here. That Malaysia JV jump is nice too — do you think the $0.05 payout can inch higher next year?
    • Fistein: 
      Sure.
      Rising Inflation will rise Staple Food price and increase QAF profit margins.
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