Gardenia is providing the best that consumers deserve! Impressive!
QAF Limited has announced a 129% increase in full year net profit.
A final dividend per share (DPS) of 4c has been declared. Total DPS for the year is 5c.
Why the big jump in net profit? There is an exceptional item which accounts for almost $60 million worth of income.
Earnings per share (EPS) for the full year 2016 is 21.4c. Excluding the exceptional item, EPS is 10.9c which is still a very decent 16% increase over 9.4c from the year before.
I have said before that QAF Limited should trade at a PE ratio of at least 14x. However, if what happened at Auric Pacific is any gauge, QAF Limited should trade at a higher PE ratio.
Shareholders of Auric Pacific (think Sunshine bread) received an offer price of $1.65 a share in early February. I said then that the offer valued Auric Pacific at about 18.3x PE ratio......