Issue link: https://maltatoday.uberflip.com/i/1462497
4 NEWS 24.3.2022 M&Z p.l.c. has celebrated the start of trading in its shares on the Malta Stock Exchange with the company's Execu- tive Director Paul Camilleri ringing the market's opening bell at the Exchange in Valletta. He was accompanied by Erika Pace Bonello, Human Resources Director, Emma Pullicino, Director, Greta Camill- eri Avallone, Managing Director, om- as Agius Vadala, Finance Director and Matthew Camilleri, non-Executive Di- rector. M&Z p.l.c., which represents many leading global FMCG manufacturers and is responsible for the importation, marketing and distribution of a vast ar- ray of renowned brands in Malta, recent- ly completed an oversubscribed offer for the sale of 11,550,000 ordinary shares in the Company, which are now being trad- ed on the Malta Stock Exchange. e share offer coinciding with another milestone for M&Z p.l.c., as the compa- ny is celebrating its 100-year anniversary this year. M&Z registered €22.69 million in reve- nue in 2021, with a projected €1.69 post- tax profit. M&Z represents a number of leading global FMCG (fast-moving consumer goods) manufacturers and is responsi- ble for the importation, marketing and distribution of a vast array of renowned brands well known with the majority of the households across the Maltese is- lands. It operates in the categories of ambi- ent, fresh, chilled and frozen foods, ice- cream, baby & kids care and home and personal care. Its distribution network reaches a wide customer base through various channels, including the tradi- tional groceries and supermarkets pres- ence as well as a direct-to-consumer route. e company's various sales teams ser- vice 2,500 active accounts across super- markets, minimarkets, grocers, conven- ience & confectionery stores, home and personal care stores, health shops, baby shops, toy shops, pharmacies, hotels, restaurants, beach clubs, cafes, gyms, stationeries and online through its own direct-to-consumer (DTC) site as well as other 3rd party e-commerce sites. e origins of the company can be traced back to the 1920's through the es- tablishment of Micallef & Zammit Lim- ited's predecessor in 1922 as a merchant of mass market commodity items with the partnership of Saviour Zammit and Charles Micallef, who later that decade relinquished his rights to the business. In the 1930s MZL established its FMCG business to represent Van Den Bergh (now Unilever) and Zwanenberg Fabrieken Oss products. In 2014, the company took over the business of Poultry Products, which formed part of the Edible Oil Group of Companies, and in 2016, it acquired the business of V&F Portelli & Sons, result- ing in the venture into the children's food segment and personal care category with Unilever's personal care portfolio. e company also embraced new re- tail channels, including third-party ecommerce sites as well as its own di- rect-to-consumer site www.whatsin- store.com.mt which was developed out of a duty and a need to supply end-con- sumers. e site also serves as a platform to market brands with limited exposure in-store. At the end of 2020, the company was awarded the distribution and market- ing of the Chicco brand specialising in mother and baby care products, thereby expanding the Company's offering in the baby care segment. In 2021, the company undertook a rebranding exercise, resulting in the launching of a new corporate identity whereby the company name was abbre- viated to M&Z from M&Z (Marketing) Limited, whilst revamping its logo and website. M&Z ring the bell at Malta Stock Exchange M&Z p.l.c. Executive Director Paul Camilleri ringing the market's opening bell at the Exchange in Valletta, accompanied by (from left) Erika Pace Bonello, Human Resources Director, Emma Pullicino, Director, Greta Camilleri Avallone, Managing Director, Thomas Agius Vadala, Finance Director and Matthew Camilleri, non- Executive Director MHRA backs calls to remove remaining Travel Restrictions THE Malta Hotels and Restaurants Association (MHRA) fully supports calls by travel and tourism stakehold- ers to end all remaining travel restric- tions. Whilst recognizing efforts spear- headed by the relevant national au- thorities in managing the spread of the pandemic, the reduction of COV- ID 19 protocols that have taken place to-date don't go far enough to reflect the latest developments happening on this front in important source tourism markets and competing destinations. MHRA President Tony Zahra states that, "patchwork of restric- tions do nothing to prevent the spread of COVID but rather unnecessarily complicate the running of operations, leading to delays at the airport and business inefficiencies." Mr Zahra adds, "Over the past few weeks, we have seen economies reopening. It is time to remove ineffective restrictions and allow people to travel freely." MHRA reaffirms that international travellers are looking for safe desti- nations which offer the path of least resistance, and right now despite that we are a safe destination with all the vaccinations carried out we are still considered to be a path of resistance for many travellers. This situation is continuing to im- pact negatively the recovery, despite that prospects for a pick up of the tourism sector for the coming season are highly positive. Mr Zahra further states that, "The war in Ukraine has created a situa- tion where countries such as Cyprus and Turkey which depended heavily on Russian and Ukrainian tourists will be concentrating their efforts on mar- keting their products in other source countries most of which are our mar- kets. We therefore expect serious competition in these markets and need to be able to compete on a lev- el playing field, making it imperative that such restrictions are removed im- mediately."