On 16 November 2011 Simonds Farsons Cisk plc published its Interim Directors’ Statement covering the third quarter of their financial year between 31 July and 31 October 2011.
During the period under review, the Farsons Group announced that it registered a satisfactory performance with revenues across all business segments continuing to grow despite the highly intense and competitive market dynamics. As such, the Farsons Group expects to register a further improvement in profitability for the current financial year ending 31 January 2012 compared to the previous year. During the year to 31 January 2011 the Group had registered a 35% increase in profits amounting to over €3.7 million while during the first half of the 2011/12 financial year, the Group registered a 21% increase in profits to €2.6 million.
Farsons also announced that it maintained a healthy cash generation and its overall level of indebtedness continues to remain stable.
In the Interim Statement Farsons also confirmed that works on the new brewhouse and water treatment facility are on schedule for commencement of operations by summer 2012.