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Simonds Farsons Cisk plc addresses Research Analysts at MSE 22/06/2016

Simonds Farsons Cisk plc addresses Research Analysts at MSE

The Chairman and senior management of Simonds Farsons Cisk plc were recently invited to participate in a series of Research Analysts Meetings being organized by the Malta Stock Exchange (MSE) for listed companies. The objective of the meeting was to present an overview of its financial year ended 31st January 2016 as well as to provide some insight into the plans of the Farsons Group for the current year, including an update of the current projects being undertaken to an audience of stockbrokers, financial analysts, major bank representatives and MSE officials.

The event was introduced by the Chairman of the MSE, Mr Joseph Portelli, who said that the Exchange was committed to giving added value and visibility to listed entities like Farsons by creating opportunities like these that allow them to interact with the market.  Mr Louis A. Farrugia, Chairman of the Farsons Group then addressed the meeting, and whilst acknowledging the positive results achieved by the Farsons Group and giving due recognition to all the stakeholders who contributed to this strong performance, Mr Farrugia emphasized the importance of the achievement of these encouraging results to be able to continue with the planned investments which are targeted at enabling the Group to further grow its business both locally as well as internationally. To be able to meet this vision, the Group is currently commissioning a new €27m beer packaging facility, an investment which was initiated in April 2014 and which has been completed on time and on budget despite the complexities involved. Other current investments include the extension of the Logistics Centre and the enlargement of the Group’s administration block.

Mr Norman Aquilina, Group Chief Executive provided further insights into the plans of the Farsons Group and its strategies for the future. He presented the improved trading performance of the different business segments of the Group despite the fierce and ever-present competition in an increasingly complex and dynamic market.  The Group’s focus on innovation and internationalisation to be able to achieve its ambitions for further growth were emphasized. The Group places a strong focus on new product development but also drives a strong message of innovation in its systems, processes and ways of working.  Mr Charles Xuereb, Group Financial Officer, then presented an overview of the recently audited financial results and outlined the developments and plans relating to the proposed spin-off of the non-operational property assets into a newly listed public company.  The decision relating to this proposed spin-off is to be taken at a general meeting for shareholders planned for 2017.

Simonds Farsons Cisk plc will be holding its Annual General Meeting at the end of this month.