Farsons has reported strong growth in the six months to the end of July, with  turnover up by 4% over last year €53.3 million. Operating profit increased by €437,000 or 6% over the previous period.

Profit after tax for the period reached €6.4 million, exceeded last year’s figure by
4.7%. Earnings per share increased by 4.4%.

The group said on Wednesday that it registered an increase of 2.3% in its
segmental result for the brewing, production and sales of beer and branded beverages. Revenue from this segment represents 54% of the group’s turnover.  

The beverage and food importation segment registered an improved contribution to profit of 10.3% on an increase of 1.2% in turnover.

"The operation of the franchised food retailing establishments maintained the steady growth experienced in recent years, with increases in turnover and segment results of 8.6% and 23% respectively. This growth was registered across the 14 outlets operated by Food Chain Ltd," the group said.

Group’s Chairman Louis A Farrugia said: “The Group reaffirms its commitment in internationalising the business while remaining prudently optimistic of the growth potential in existing and new markets.

"The Board of Directors recognise that the long-term investment strategy deployed over the years will continue to prove beneficial in providing in an efficient, competitive and profitable manner the diverisified high quality product mix sought by our customers"

Farsons Group Chief Executive Norman Aquilina said the changing market landscape and changes in consumer spending patterns, along with growing concerns on packaging waste, will continue to be important challenges for the group, as will the maintenance of equitable market conditions that ensure a level playing field for all operators in the sector. 

The Board of Directors is declaring a net interim dividend of €1 million (2018: €1 million) in respect of the financial year ending 31 January 2020, payable on 16 October 2019 to the ordinary shareholders who will be on the
Register of Members of the Company as at 2 October 2019.