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Simonds Farsons Cisk has registered an improved performance in its turnover as well as operational profitability across all its business segments. It maintained its growth trend with group turnover increasing by 5% over the previous year to reach an all-timeFarsons group turnover reaches all-time high
Simonds Farsons Cisk has registered an improved performance in its turnover as well as operational profitability across all its business segments. It maintained its growth trend with group turnover increasing by 5% over the previous year to reach an all-time high of €99.8 million for the financial year ending January 31. Farsons Group’s pre-tax profit, following the ‘spin off’ of Trident Estates in the previous financial year, reached €15.1 million - an increase of 10% from last year’s profit of €13.8 million.Earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to €23.2 million, an increase of 5% over last year. The group’s net borrowings decreased by €6 million, resulting in a lower gearing ratio of 23.4% as compared to 28.8% in the previous year. Total equity of the group increased from €96.6 million to €108.3 million reflecting the profit generated, net of the dividends distributed during the year. In spite of growing aggressive competition within the local beverage market, the company has registered growth in its locally produced products whilst also increasing its imported beer, spirits and wine portfolio in response to changing consumer... Read more