Farsons said today it made an after tax profit of €4.6m from continuing operations in the six months to the end of July, exceeding last year’s record by 14 per cent.

Group turnover exceeded €44 million, an increase of 8% over last year. Operating profit increased by €592,000.

On the investment side, Farsons reported that while construction on the new state-of-the-art beer packaging facility continued to progress on schedule and on budget, it also plans to expand its logistics operations and warehousing capabilities, alongside a new office space development to house its administrative employees.

This investment, together with related capital expenditure, is expected to amount to €10 million and scheduled to commence next January to be completed within two years. 

Group chairman Louis A. Farrugia said that further detailed designs, analysis and specifications for the development of a Farsons Business Park have been undertaken and the project is set for approval by the next annual general meeting. 

The directors are recommending an interim dividend of €1 million, similar to last year, and equivalent to 3c33 per share.  Such dividend will be paid out of tax exempt profits, payable on October 20 to those registered ordinary shareholders as at October 6.