Simonds Farsons Cisk plc issued its Interim Director’s Statement on 30 May.
The Directors stated that during the financial period commencing 1 February 2008 up to 30 May, no material events have taken place that would impact the financial position of the Company and its controlled undertakings.
The Directors explained that following the abolition of the derogation in respect of packaging regulations relating to carbonated beverages in December 2007, the now fully liberalized market has seen a large influx of imported beverages at low pricing positions.
Although Directors expect strong competition to continue, they stated that the company has strategies to overcome this development.
The Directors concluded by stating that they are satisfied with the overall performance of all the segments of the Group especially the operations of the franchised food retailing establishments.