€1.50
THURSDAY 24 SEPTEMBER 2020 • ISSUE 76
WWW.BUSINESSTODAY.COM.MT
PAUL COCKS
FARSONS Group registered
a 31% drop in turnover in the
first six months of 2020 when
compared to the same period
last year, due to the onset of
the COVID-19 pandemic.
And, according the Group's
Financial Analysis Summary
published yesterday by Rizzo
Farrugia Stockbrokers, the
Board is expecting a chal-
lenging second half of the fi-
nancial year and believes that
further reduction in consum-
er demand together with po-
tential reduction in spending
power will continue to impact
negatively its profitability.
Norman Aquilina, CEO of
the Group, said that this fi-
nancial period got off to a
strong start with turnover and
profits in the month of Feb-
ruary exceeding those of the
previous year by 10%.
PAGE 2
Editorial PAGE 5
THE FINCEN FILES: AN IMPORTANT CONVERSATION
Farsons Group H1 turnover takes
€31 million hit due to COVID-19
PAGE 3
PAGE 3
BOV charge applicable only on
combined average book balance
New €10 charge introduced this month draws customers' ire
• BusinessToday looks into when charge is actually applied
Group ends with a net profit of €1.6
million for the six-month period following
measures introduced by management
Accountant
fined €150,000,
gets 10-year
ban for offering
investment
services without
a license
SAVINGS ACCOUNTS WITH LESS THAN €200
