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COMPANY ANNOUNCEMENT: Interim Directors' Statement 12/3/2014

The following is a Company Announcement issued by Simonds Farsons Cisk plc pursuant to the Malta Financial Services Authority Listing Rules 5.86 and 5.88. This statement is based on the unaudited management accounts of Simonds Farsons Cisk plc up to 31 October 2014 and other financial information.


Interim Directors’ Statement

The Board of Directors hereby announces that, since the publication on 24 September 2014 of its unaudited financial statements and directors' report for the six months ending July 2014, no material events and / or transactions have taken place that would have an impact on the financial position of the holding company and/or its controlled undertakings such that they would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules.

Dynamic market conditions and intense price competition continue to prevail within all sectors relevant to the group areas of operations. Nonetheless, the performance to date, particularly for the core business, has been positive and in line with expectations.  The group remains very active in seeking to exploit all market opportunities and continues to pursue its plan to implement its strategic vision of growth through exports.

The construction works on the new beer packaging hall are progressing according to schedule and the board is confident that this project shall be delivered as per the established project plan and on budget.

Studies and discussions with authorities, advisors and stakeholders relating to the Farsons Business Park project continued to be held.  Works on the concept and design for the initial phases of the development are progressing well and, as expected, these should be finalized by mid-2015.  As previously announced, the extraordinary shareholders’ meeting on the investment proposal and envisaged “spin off” of the property assets should be held during the last quarter of 2015.


Antoinette Caruana
Company Secretary