12 - 18 October 2000

Lm0.6m profit for Farsons Group

by Franco Aloisio

Farsons Group yesterday announced a profit of Lm614,000 for the first six months of this year – an increase of around Lm100,000 over the profit achieved in the same period last year.
The group’s turnover for the six-month period was Lm11,540,000, reflecting an increase of six per cent over the previous financial period. The profit before taxation of the Group was up by 15 per cent, from Lm534,000 in 1999 to Lm614,000 this year.
During the period, Farsons acquired 100 per cent shareholding in Anthony Caruana & Sons Limited. The principal activity of this company is the importation and sale of beverages, wines and spirits, thereby strengthening the group’s portfolio of brands.
The company said these results have been achieved through the enhanced operational performance of the group’s subsidiary companies.
The board of directors said it is of the opinion that this level of profitability is satisfactory given the increased competitive pressure within this sector. Nevertheless, all units within the group are continuing with efforts to improve efficiencies and reduce costs, the company said.