Simonds Farsons Cisk plc today held its Annual General Meeting, where shareholders were informed of a landmark year marked by record financial performance, the announcement of a dividend of €0.20 per share, and confirmation of the Group’s strategic decision to spin off its food businesses into a newly listed company, Quinco Holdings plc.
Chairman Louis A. Farrugia described the past year as one of “strategic importance,” highlighting the Board’s decision to proceed with the spin-off of Quintano Foods Limited and Food Chain Limited. Shareholders will receive shares in Quinco Holdings through a dividend in kind. “We are confident that this reorganisation will allow each business to pursue focused growth under distinct leadership,” said Mr Farrugia, noting the positive precedent set by the successful Trident Estates spin-off in 2018.
Group CEO Norman Aquilina reported a record Group profit of €18.6 million, a 22% increase over the previous year, and a 5.5% revenue increase in the beverage segment. He also highlighted robust growth across all beverage categories. “Despite intensifying market pressures, we continued to challenge ourselves strategically, delivering solid performance and setting a clear path for future growth,” Aquilina said.
The period was marked by strong export growth, with revenues rising by over 22%, driven by robust performance in Italy and the Middle East and bolstered by new franchise partnerships in Ghana and Australia. Operational efficiency and service quality were enhanced through strategic investments in logistics and digital infrastructure.
In the food segment, expansion of the Burger King and KFC networks continued, alongside the rationalisation of Pizza Hut outlets and the advancement of a major logistics centre in Handaq, set for completion in 2026. These developments underpin the recent spin-off into Quinco Holdings, paving the way for targeted, scalable growth in the food business.
The Board declared a final dividend of €0.14 per share, bringing the full-year dividend to €0.20, reflecting a 39% payout of post-tax profits.
As Farsons approaches its centenary, the Group remains focused on strengthening its core operations and creating long-term value for shareholders.