On 29 September, Simonds Farsons Cisk plc published its July 2010 Interim Results. The financials reveal a 4.7% increase in turnover to €35.1 million mainly due to growth in the Group’s export business, increased sales of beers due to higher tourist numbers and improved results in the importation of beverages segment particularly through the recently acquired representation of Red Bull. The Group’s continued efforts to review its operations and contain costs, were offset by higher utility costs which mainly adversely affected the franchised food business. Overall, the Group’s cost base increased by 4% to €31.9 million.
Nonetheless, the Group registered a 12.4% increase in operating profit to €3.2 million. After accounting for interest payable and tax expense, the Group registered a profit for the period of €2.2 million (earnings per share of €0.072), representing a 19.4% increase over the profitability registered in the comparable period last year.
The Directors declared an interim dividend of €0.0133 per share representing a 33% increase over the interim dividend paid with respect to the six months ended 31 July 2009. Shareholders as at close of trading on Tuesday 5 October will be eligible for this dividend.
Download a copy of the Simonds Farsons Cisk plc July 2010 Interim Report