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FARSONS DOUBLES PRE-TAX PROFIT 25/04/2007


Simonds Farsons Cisk - an aerial view of the investment programme taking shape

Simonds Farsons Cisk plc’s financial results for year ending 31 January 2007 show a 2% Group Turnover increase to Lm26,721,000.  Group Profit before tax doubled from Lm487,000 to Lm969,000.

Improved results were largely due to increased sales of beer and beverages and reduction in selling, distribution and administration costs, further continued improvement in the performance of Quintano Foods Ltd and reduction in losses in the subsidiary companies Guido Vella Ltd and Vita Sana Srl. 

These results have been achieved as the Lm10,600,000 investment in a new Soft Drinks Packaging Hall and Logistics Centre nears its completion.

Group Chief Executive, Louis Farrugia, commented: “We are on the right track to further improvement.  We are continuing to cut administration costs, improve productivity and quality as well as adding new innovative products to our portfolio.  We are also pleased with our export results.”

Next year Wands Limited and Anthony Caruana & Sons Limited operations will be transferred to the new Logistics Centre and this will “free up” this impressive site for development.

“The Farsons Group is transforming itself and adapting to the new realities of the market place,” concluded Louis Farrugia.