Quinco Holdings plc – Interim Results
Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.
Financial Performance
On 20 August 2026, Quinco Holdings plc published its Interim Financial Report for the six-month period ended 30 June 2026. This represents the Group’s first interim reporting period following the establishment of Quinco Holdings plc as the listed parent company of the food distribution and retail operations spun off from Simonds Farsons Cisk plc.
During the period, the Group generated revenue of €19.8 million of which €14.4 million generated by the Quick Service Restaurants segment and €5.43 million generated from external customers of the Fast-Moving Consumer Goods segment. The Directors stated that the results for the period were impacted by the reduction in the number of Quick Service Restaurants operated by the Group, following the decision to close the Pizza Hut outlet in Valletta and the temporary closure of the Burger King outlet in Paceville. The Group has reached agreement in principle for the development of a new outlet, which is expected to commence operations towards the end of 2026.
Gross profit amounted to €4.69 million, reflecting a gross profit margin of 23.7%. After selling and distribution costs of €1.02 million and administrative expenses of €2.45 million, operating profit amounted to €1.22 million, which translates into an operating margin of 6.2%.
Profit before tax stood at €1.08 million and net profit amounted to €0.68 million, equivalent to earnings per share for the period of €0.019.
The Statement of Financial Position as at 30 June 2026 showed total assets of €76.9 million, which includes €30.5 million property, plant and equipment, €25.6 million intangible assets and goodwill, €8.27 million right-of-use assets and €6.47 million in cash.
Total liabilities amounted to €28.4 million, largely composed of payables of €9.76 million, lease liabilities of €8.20 million and borrowings of €3.83 million.
Total equity amounted to €48.5 million, which translates into a net asset value per share of €1.348 compared to €1.329 as at 31 December 2025 and the spin-off attribution price of €1.30 per share.
New Head Office and Logistics Complex
Capital expenditure during the period amounted to €5.71 million, of which €5.37 million related to the Ħandaq head office and logistics centre. The Directors stated that the project is approaching completion and that the Group expects to commence the phased relocation of offices and operational activities towards the end of the summer of 2026. As at 30 June 2026, contractual commitments relating to the project amounted to €5.6 million, with a further €1.0 million of capital expenditure approved but not yet contracted.
Operational Transition and Distribution Agreement
The Board stated that the centralisation of the finance, IT, payroll and human resources functions was completed during the period and considers the operational separation and transition process arising from the spin-off to be substantially complete.
Separately, Quintano Foods Limited assumed responsibility for the distribution of the Kraft Heinz portfolio in Malta, with the Board expecting the full commercial benefits to become increasingly evident over future reporting periods as the product range becomes established in the market.
Outlook
The Board stated that it remains cautiously confident on the Group’s prospects for the remainder of 2026, pointing to the near completion of the Ħandaq centre, the implementation of the Kraft Heinz distribution agreement, and the launch of the Business Intelligence platform. The Directors expect the benefits of these initiatives to become progressively more evident over future reporting periods. The company also noted that the first two quarters of the year traditionally represent a quieter trading period, and that the performance for the six months ended 30 June 2026 should not necessarily be regarded as indicative of the financial year ending 31 December 2026.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.