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FARSONS REPORT MUCH-IMPROVED SIX MONTHLY RESULTS 26/09/2007

Simonds Farsons Cisk plc has announced a much improved six monthly set of interim results to 31 July 2007. Group Turnover increased by 4%, from Lm13,957,000 (Euros 32,511,064) to Lm14,485,000 (Euros 33,740,973).  Profit before tax amounted to Lm1,422,000 (Euros 3,312,368) compared to Lm590,000 (Euros 1,374,330) for the same six month period last year.

“This set of interim results reflect an improvement in all our business units” stated Louis Farrugia, Group CEO.  “They have been largely achieved as a result of successful new product launches, a better economic environment, a good tourist season and a hot summer, as well as a doubling of export revenues.

They also reflect a “one off” profit of Lm463,000 (Euros 1,078,499) on the sale of properties surplus to the Group’s requirements.

These improved results are the culmination of a good team effort from all the Group’s 900 employees and augurs well for the future challenges ahead”, he said.

The heavy investment programme amounting to Lm10,500,000 (Euros 24,458,420) comprising of a soft drinks packaging hall and logistics centre, is now nearing completion and will enable the Group to face the full impact of liberalization of packaging restrictions effective on 1 January 2008.

The SFC Board also approved an interim dividend of 0c4 (Euros 0.93) per share amounting to Lm100,000 (Euros 232,937).