Group revenue fell 11% fall to $889.5 million, mainly due to the deconsolidation of financial results of GBKL after the stake sale. However, increases in sales were achieved by all business segments of the group – Bakery, Primary Production and Trading & Logistics.
Sales revenue from the Bakery segment decreased 26% to $379.8 million. The Primary Production segment, which consists of Rivalea, an integrated meat production business in
Australia, saw revenue rise 6% to $398.2 million. Sales revenue for Trading & Logistics rose 1% to $106.1 million.
In its outlook, the group says it is exposed to certain markets in the region which are expected to experience continuing slow growth in 2017. Furthermore, the regional currencies may face volatility and pressure. These factors may result in reduced consumer spending and higher costs, it said.
Shares of QAF closed 1 cent higher at $1.56.
