Issue link: https://maltatoday.uberflip.com/i/1172208
18 maltatoday | SUNDAY • 29 SEPTEMBER 2019 COMMERCIAL FARSONS Group maintained its steady performance for the six-month period ending 31 July 2019, with all business segments registering gains over the comparative period. As a result of continuous capi- tal investments in operational assets and human resources, Farsons registered growth in both turnover, up 4% to €53.3 million, and profit after tax, up 4.7% to €6.4 million. Operating profit increased by €437,000 or 6% over the previ- ous year. These results were achieved despite a backdrop of inten- sifying competition and unfa- vourable weather conditions. Farsons Group will continue to focus on its strategic invest- ments, on further product im- provements and on pursuing its internationalisation plans. Farsons Group Chief Execu- tive Norman Aquilina said: "It is encouraging to report a steady performance across all segments within our Group, which continues to deliver ro- bust results despite competi- tive pressures." Referring to the challenges ahead, Aquilina said, "The changing market landscape and changes in consumer spending patterns, along with growing concerns on pack- aging waste, will continue to be important challenges for the Group, as will the main- tenance of equitable market conditions that ensure a level playing field for all operators in the sector." The Group registered a mar- ginal increase in its brewing and beers segment notwith- standing ongoing market competition in terms of new imported brands and pricing challenges. The beverage and food impor- tation companies registered an improved 10.3% contribution to profit, while the franchised food retailing establishments maintained steady growth with an 8.6% turnover increase. The Group's Chairman Louis A Farrugia said, "The Group reaffirms its commit- ment in internationalising the business while remaining prudently optimistic of the growth potential in existing and new markets. The Board of Directors rec- ognise that the long-term in- vestment strategy deployed over the years will continue to prove beneficial in providing in an efficient, competitive and profitable manner the diverisi- fied high quality product mix sought by our customers." Referring to the restoration and rehabilitation of Farsons Old Brewhouse, Farrugia said that this landmark regenera- tion project is on time for the projected completion date dur- ing the first quarter of 2021. The project will provide a brewery Visitor Experience, a Microbrewery, a Brewpub, a Cisk bar, a food court and mul- tiple indoor and outdoor event areas for both business and lei- sure activities. Earnings per share increased by 4.4% to €0.213 for the pe- riod under review. The Board of Directors declared a net in- terim dividend of €1 million (2018: €1 million). Farsons maintains a steady performance Farsons' long-term investment strategy deployed over the years continued to be beneficial THE 8th edition of Science in the House exhibition was of- ficially opened by the Deputy Speaker of the House of Repre- sentatives, Claudette Buttigieg, at the Parliament Building in Valletta. The event celebrates the achievements of Malta's research scientists, academics and engineers. Prof. Saviour Zammit, Pro- Rector for research and in- novation, introduced four re- searchers, who were recently granted University Research Grant Awards. Their success- ful research funding propos- als cover different categories: David Zammit was awarded from the Art, Humanities and Social Sciences; Jason Gauci from Engineering/ICT, Profes- sor Joseph Borg from Life Sci- ences, and Jackson Said from the Natural Sciences category. A signature annual event, Sci- ence in the House brings to- gether scientists and Members of Parliament under one roof. The exhibition is a media and networking forum showcasing 16 scientific research projects from the University of Malta and MCAST. The exhibition will demon- strate virtual reality technology for the first time. Science topics include quan- tum computing and telecom- munications, marine fish con- servation, computer aided drug design, genetics of osteo- porosis, food testing of dairy products under various climat- ic scenarios, satellite imagery enhancement technologies, innovative methods for blood cancer detection, new drugs for blood disorders, lab-on-a- molecule diagnostic technol- ogy and much more. Science in the House exhibi- tion is open for public viewing at the Parliament foyer during Notte Bianca on Saturday 5th October. The event inaugurated the Science in the City - European Researchers' Night which took place on Friday 27th Septem- ber from 6pm till midnight in Valletta. This year the festival programme theme is "The Sci- ence of YOU". Science in the City is part of the EU-wide celebration Eu- ropean Researchers' Night. It is funded by the Marie Skłodowska-Curie Actions of the Horizon 2020 Program of the EU, and a number of cor- porate sponsors. It is recog- nised as a Festival by Europe for Festivals and Festivals for Europe (EFFE) The consortium is led by the University of Malta, Malta Chamber of Scientists and the University's Research Trust (RIDT), in partnership with Parliamentary Secretary for Fi- nancial Services, Digital Econ- omy and Innovation, Ministry of Education and Employment, MCAST, Esplora, JUGS Ltd, Studio 7, BPC International, GSD Marketing Ltd, Aqua- biotech Ltd, MEUSAC, PBS, Spazju Kreattiv, Valletta Local Council, Malta Council for the Voluntary Sector, Small Initia- tives Support Scheme, More or Less Theatre, Transport Malta, Kreattiv and Creative Commu- nity funds, and Arts Council Malta. Full programme can be viewed on www.scienceinthecity.org. mt or follow the festival on Facebook for regular updates: w w w . f a c e b o o k . c o m / S c i e n - ceInTheCityMalta House of Representatives hosts science research from Malta Event marks Science in the City – European Researchers' Night 2019 University of Malta researchers explaining their research case study to Members of Parliament