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Simonds Farsons Cisk plc has registered an improved performance in its turnover as well as operational profitability across all its business segments. Farsons maintained its growth trend with Group turnover increasing by five per cent over the previous year tA steady year of growth for Farsons, despite ongoing challenges
Simonds Farsons Cisk plc has registered an improved performance in its turnover as well as operational profitability across all its business segments. Farsons maintained its growth trend with Group turnover increasing by five per cent over the previous year to reach an all-time high of €99.8 million for the financial year ending 31st January 2019. Farsons Group’s pre-tax profit, following the ‘spin off’ of Trident Estates plc in the previous financial year, reached €15.1 million – an increase of 10 per cent 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 five per cent over last year. The Group’s net borrowings decreased by €6 million, resulting in a lower gearing ratio of 23.4 per cent as compared to 28.8 per cent 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,... Read more