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Farsons maintains steady growth in profitability 01/10/2003

Simonds Farsons Cisk plc reported Group Turnover of Lm12,773,000 for the first six months of the current financial year, which represents an increase of 3.4% over the same period last year. Group Profit before taxation for the same period amounted to Lm772,000 representing an increase of 33% over Lm582,000, for the same period last year. The profit attributable to shareholders increased from Lm618,000 to Lm762,000 - an increase of 23%.

Commenting on these Interim Results, Group Chief Executive, Louis A Farrugia, stated the profitability improvement was achieved throughout Group's activities. The above average temperatures for June and July helped sales of beer and other beverages despite increased competitive activity in a more liberalised market. It was encouraging to see that the various strategies adopted by the Group in the difficult economic environment are bearing fruit.