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maltatoday | SUNDAY • 21 MAY 2023 10 COMMERCIAL BNF Bank engages staff in first ever town hall meeting BNF employees took centre stage at the Bank's first ever, town hall meeting – a forum hosted by management with the aim of directly engaging staff in the Bank's agenda. The town hall, organised in April, brought together the Bank's 200 plus strong employee base from different units, departments, and branches, to discuss issues, share ideas and ask questions in an open and interactive manner. The Bank's Executive Officers set the tone for the meeting by announcing new staff benefits. They went on to give a detailed update on the Bank's operation- al progress and intended invest- ments, its ongoing digital trans- formation, its projections as well as future plans. They highlighted the Bank's accomplishments, strong balance sheet and posi- tive financial results – ultimately consolidating BNF Bank's robust systemic position in the market and local economy. Much importance was given to a dedicated question and an- swer session, where team mem- bers engaged in open conversa- tions, asked questions, put their concerns across and gave their feedback to which management replied in a transparent manner. "Our first ever town hall was a resounding success, and it won't be our last," said David Power, Chief Executive Officer at BNF Bank. "The forum gave every- body the chance to speak and share ideas, put forward sug- gestions and voice challenges and concerns, while manage- ment could clearly articulate the Bank's strategy, vision, values and goals and explain in detail the manner in which this will be achieved." At the end of the meeting, all team members were given a BNF Bank branded pack including tech items and stationery, for a more comfortable and produc- tive work environment. Farsons Group reports strong results amid a remarkable recovery SIMONDS Farsons Cisk plc an- nounced a pre-tax profit of €15.3 million, up from €12.2 million in the previous year, as the Group published its financial results for the year ending 31 January 2023. The Group's turnover reached €118.2 million, an increase of 28.8 % from last year's figure, with improved revenue across all are- as of operation. These improved results are significant given the particularly challenging global macroeconomic and geopolitical developments which the Group had to navigate through during the year. These included the im- pact of the Ukraine war and the lingering effects of Covid-19, to which the Group was highly ex- posed as a result of the impact of the pandemic on the hospitality and entertainment industry. Not- withstanding these circumstanc- es, the Farsons Group increased its volumes across various bev- erage and food categories.In the year under review, the Farsons Group registered a particularly strong performance in two sec- tors: the production of beer and other beverages, as well as in the importation of foods and drinks. Despite having to contend with significant increases in the cost of services and raw material at glob- al level, the Group managed to maintain its prices at reasonable level and enhance its competitive market position. The Group's annual performance also reflects the transformation implemented over the previous two decades, which saw the Farsons Group be- ing transformed into a diverse and modern operation producing and selling high quality beverage and food products, both locally and internationally. This growth re- quired massive investment in land and buildings, plant and equip- ment, and a high level of lead- ership, skills and training. Over the past years, Farsons Group has been heavily engaged in the re- development of its old brewery. The Brewhouse represents a sig- nificant milestone in the Group's development, together with The Brewhouse Visitor Experience. The Brewhouse will also be host- ing Farsons Group's new craft beer venture. The installation and commissioning of a microbrewery was completed in July 2022 with the assistance of a Caspary brew master. Encouraged by the results achieved during the financial year under review, the Board of Direc- tors will be recommending a final dividend of €3.96 million (equiva- lent to €0.11 per share) to share- holders at the forthcoming An- nual General Meeting. Together with the interim dividend of €1.62 million (€0.045 per share), this will make for total dividends in re- spect of the financial year ending 31 January, 2023 of €5.58 million or €0.155 per share. The Farsons Group will be hold- ing its Annual General Meeting on 15 June 2023 at the Trident Park Conference Hall. Nominations for the Nazzareno Vassallo Award 2023 are open NOMINATIONS for The Naz- zareno Vassallo Award 2023 will remain open for submis- sions till the 15th of June 2023. Celebrating 25 years since its inception, The Nazzareno Vas- sallo Award aims at recognising outstanding and committed individuals who in one way or another, helped to positively impact older persons' lives. The award is named after Naz- zareno Vassallo, the founder of Vassallo Group and the first entrepreneur to embark on pro- viding care services for older persons within the private sec- tor in Malta. Nominations may originate from individuals, groups, or in- stitutions, as well as local coun- cils and NGOs. All have the opportunity to nominate a ded- icated person or entity whose work with the elderly stands out. The applications for this year's award can be downloaded from www.vassallogroupmalta.com or www.caremalta.com and can be submitted via email on nvaward@caremalta.com or call on 22584200 for more informa- tion. This award is organised joint- ly by the Vassallo Group, and CareMalta Group, which this year is celebrating its 30th Anni- versary. CareMalta Group is the island's leader in residential care for the elderly, operating also in the area of disability through HILA, Home to Independence and Limitless Abilities.