Farsons sees 45% profits jump

Simonds Farsons Cisk  reported today that group turnover for the six months ending July 2012 increased by 10% to almost reach €40 million, while profit after tax increased by 45% to €3.8 million over the first six months of the previous financial year.

The strong performance of the company-owned Cisk and Kinnie brands, innovation, improved efficiencies, record tourist numbers and exceptionally warm weather conditions conducive to higher beverage consumption all contributed to the positive performance .

Commenting on the interim results, the group's Chief Executive Officer, Norman Aquilina, stated that "While we are clearly satisfied with these results, it is critical to underline the significant importance of ensuring the right level of profitability to be able to sustain the continued level of investment necessary to maintain our competitive advantage. The challenges ahead remain significant, particularly due to growing competitive pressures along with the volatile international economic scenario. This being particularly relevant as we continue to pursue our growth strategy spearheaded through both innovation and export.

Farsons said that the outlook for the forthcoming months depends on the international and local economic circumstances together with the sustainability of tourist arrivals.