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Simonds Farsons Cisk maintains positive growth

Simonds Farsons Cisk plc has increased turnover to a record €95 million for the financial year ending January 31. This represents an increase of 7.8% over the previous financial year’s results, while profit before tax from continuing operations increased by 18.2% to €13.4 million.

The series of investments completed by the group over the past years, extended by an additional €13.5 million invested in 2017, ensured that the company is equipped to respond to the dynamic local and export market conditions.

Significant efficiency gains on the production lines together with various management initiatives leading to improvements in productivity, further contributed to the results. Consumer demand across all beverage sectors improved during the year under review while the company responded to the market in a timely and effective manner.

Following the successful spin-off of Trident Estates plc into a separate listed entity and the change in shareholding, the group has disposed of its property management segment which had been classified as discontinued operations.

The board of directors has resolved to recommend the distribution, out of tax exempt profits, of a final net dividend of €2,600,000, (8c66 per ordinary 30c share), to be paid on June 22.

An interim net dividend of €1 million, (3c33 per ordinary share) had been approved in September and distributed in October.

Therefore, the total net dividend relating to the financial year ended January 31
amounted to €3.6 million (12c per ordinary share).

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