Issue link: https://maltatoday.uberflip.com/i/306555
Events 38 maltatoday, Sunday, 4 May 2014 Farsons Group registers steady improvement in results Young creators to compete in Malta Robotics Olympiad 2014 Pater Group and Elmo Insurance strike collaboration agreement Simonds Farsons Cisk plc registered another year of steady and profita- ble growth. Delivering an improved performance over the previous year's record results, Group turno- ver for the financial year ending 31 January 2014 reached €78.6 million, whilst profit before tax amounted to €6.9 million, increases of 2% and 6% respectively over the previous year. Profitability increased across all the Group's business segments and the solid performance for the year was positively inf luenced by a sta- ble economic environment, another record year of tourist arrivals and various other factors. Many ini- tiatives have been taken within the Group to improve efficiencies and increase productivity. Group Chairman Louis A Far- rugia said, "The improvement in profitability is no coincidence but the result of significant investments of nearly €30 million made in the latest technologies and operational improvements over the past five years. We are constantly seeking to produce world-class products in the most efficient way possible." In other developments, the signif- icant €12.5 million investment in a new technologically advanced brew house last year began reaping re- wards for the Group as it increased efficiencies. Work has now started on a new €27 million beer packaging facility, replacing all current bottle and can production facilities. This project will be completed by April 2016. This new facility will provide the company with the additional option of producing 'one way' bottle pack- ages designed for export markets. Referring to the property port- folio, Mr Farrugia said that the company has replaced all the origi- nal 1950 plant and buildings with 1990-2013 buildings, equipment and technology. Apart from leading to benefits for the Group, this has presented it with an opportunity to redevelop the original buildings by putting them to new uses. An international firm of archi- tects has been appointed to work on developing a master plan for the Farsons Business Park and working out what sort of development can be undertaken in this iconic build- ing. The first draft of the proposed master plan for the site is expected soon. Farsons Group CEO Norman Aquilina said, "The consistent im- provement in our results is evidence that we are steadily on course, de- spite rapid market evolution and fierce competition across all sectors in which we operate.'' "We have maintained our stra- tegic focus and determination to deliver improved results. Our ambi- tions for growth remain strong – a growth strategy which apart from being supported by significant in- vestments is primarily being driven by innovation and exports." "Our unwavering commitment to render our business more efficient, so as to ensure that we continue to build and improve on our com- petitive advantage and strengthen our whole business model, remains an area of focus as we continue to develop our vision of broadening our horizons and growing our busi- ness," said Mr Aquilina. Shareholders' funds continued to improve by over €3 million to ex- ceed €95 million (January 2013: €92 million). Shareholders' funds finance 63% (2013: 61%) of the Group's total as- sets, while EBITDA (earnings be- fore interest, tax, depreciation and amortisation) stands at €14 million, an improvement of €267,000 over last year. The board of directors is recom- mending a final dividend of €1.5 million resulting in a total declared dividend for the year of €2.5 mil- lion. This figure is equivalent to the amount declared last year. M&Co, the popu- lar UK clothing brand which re- cently opened in Malta, treated guests to after- work drinks and canapés at the ex- clusive launch of the Spring / Sum- mer 2014 collec- tion. M&Co has pre- sented a beauti- ful collection in a gorgeous colour palette of sweet sorbets, bold mono-chromatics, vi- brant brights and a sea of blues rang- ing from china blue to denim. The collection is overflowing with signa- ture floral prints delivered in bold blooms through to delicate oriental florals, whilst "Bo- ho" paisley, tribal markings, playful hearts, spots and cut-about stripes offer an alternative burst of pattern. The collection also sees the re- turn of stunning separates for ver- satile dressing. Blouses, knits and shell tops are adorned in lace, em- broidery, cutwork and beading whilst casual sweats and denim separates are given an added edge with an embroi- dered and embellished finish for that straight-off-the-catwalk look. The kids' collection at M&Co is jam-packed with playful statement T-Shirts perfect for layering and leg- gings all at affordable prices. "M&Co is one of the largest, private- ly-owned retailers in the UK and has been selling quality clothing for more than 50 years," announced Gail Dun- kerley, Group Marketing Manager, Camilleri Group. "We are excited to have introduced the brand to Malta and we are also looking forward to opening two stores with the Group's partners in Libya, where the focus will be ensuring service and quality," added Dunkerley The M&Co outlet in Merchant Street Valletta was abuzz with shoppers and members of the press enjoying a 20% dis- count on all transac- tions, as well as being treated to canapés and refreshments courtesy of Camilleri Catering. The Malta Council for Science and Technology (MCST) and the De- partment of eLearning have teamed up to organise the Malta Robotics Olympiad. This activity aims to bring young people together to de- velop their creativity and problem solving skills through challenging and educational robotics competi- tions. The objectives of this activity link to those of the World Robots Olym- piad, which are mainly to provide students up to the age of 19 an op- portunity to expand their horizons through exploration of robots and robotic systems in the school. The event also aims to introduce the concept of modern science into school's educational activities in science and technology. The challenge provides an oppor- tunity to promote creative think- ing, improve communications and cooperation skills to strengthen the ability to acquire new knowledge highly relevant towards progressive education. There are three categories in this competition; the Elementary class with students in Years Four to Six and Forms One and Two, the Junior class with students in Forms Three to Five and the Senior class, with student between 16 and 19 years of age. This is a team-based challenge consisting of an adult coach and two or three team members. A total of 23 teams from different schools in Malta will participate. Winning teams will be awarded the Malta Robotics Olympiad 2014 school tro- phies and medals and given prizes. Prof. Tony Dyson, the man that built the World's most lovable Robot 'R2-D2' as featured in all the Star Wars movies, will be attending the MRO event for the day at the Cot- tonera Sports Complex on 9 May. Professor Dyson brings his expe- rience and expertise to this project, gained from his career as an Emmy nominated film SFX supervisor and being the creative genius at the helm of many of the biggest Sci-Fi movies. Dyson is responsible for Sci-Fi movie model making and special effects such as Superman 2, Moon Raker, Dragon Slayer, and of course the Star Wars films. He has also de- signed and built robots for some of the largest electronic companies in the world including Sony, Philips and Toshiba and is now involved with the creation of children's eB- ooks. More information can be found on www.tonydyson.com. "I am very pleased to be able to attend the very first Malta Robot- ics Olympiad," he said. "This chal- lenging and educational activity is organized by the Department of e-Learning (DEL) and the Malta Council for Science and Technol- ogy (MCST) and aims to bring young people together to develop their creativity and problem solving skills." During the MRO, Dyson will be conducting a keynote speech about 'Robots of the Future' at around 2:00pm and will also be available during competition judging, award presentations and autographs to at- tending students. The Malta Robotics Olympiad 2014 will take place on 9 May 2014, at the Cottonera Sports Complex Bocci Drome Hall. Registration for the event opens at 9am. For further information or queries kindly contact Mr Keith Aquilina or Elton Micallef, keith.aquilina@ ilearn.edu.mt or 25982142, elton. micallef@gov.mt or 23602177 or 79539522 A collaboration agreement has just been reached between the Pa- ter Group and Elmo Insurance. Through this agreement, the Pater Group (UCIM Co Ltd and Meridien Enterprises Co Ltd) has been ap- pointed Tied Insurance Intermedi- aries of Elmo Insurance Ltd. This effectively makes the Pater Group an insurance intermediary licensed to offer motor insurance policies through its sales represent- atives when one purchases a new Hyundai, Fiat, Alfa Romeo or Jeep model. This agreement also gives the Pater Group a license to sell oth- er policies such as home insurances, life insurances, and other related products. Additionally, Elmo Insurance cli- ents may also choose to renew their insurance at any of Pater Group's showrooms even when the original policy would not have been taken out through Pater Group. This is be- ing done to offer more convenience and flexibility to all Elmo Insurance clients. This agreement also offer a number of benefits to all those who, in the unfortunate case of a colli- sion, will need to carry out repair works on their car. In fact, in case of collisions, Elmo Insurance clients can choose to undertake repairs at the Waldorf Auto Service Centre and benefit from a €35 voucher that may be redeemed against insurance renewal on their Elmo Insurance policy, and a € 25 voucher that can be redeemed against products and services from the Pater Group. Owners Fiat, Alfa Romeo, Iveco, Jeep and Hyundai vehicles may al- so use these vouchers on servicing and repairs from the Waldorf Auto service centre, original spare parts, Selenia oils and lubricants or the Waxoyl Professional Car care range of products. David Bartoli, Elmo Insurance's Managing Director said that Elmo was very pleased to be associated with the Pater Group that repre- sented well known motor manufac- turers. "The Pater Group and Elmo Insur- ance are two companies that share the same commitment towards a customer-centric vision and value- added service. This new collabora- tion between the two companies will not only give more value to our respective client base but will also take the excellent business relations between the two companies to a new level which will be mutually benefi- cial," said Francesca Mamo, Manag- ing Director of the Pater Group. Mamo added, "This new collabo- ration also stems from our pride in the Waldorf Service Centre. Besides offering panel beating and spraying services at its paint centre, comple- mented by 20 skilled panel beaters, technicians and spray painters, cus- tomers using our Centre can also en- joy a full range of car valeting pack- ages; from a straightforward wash and polish to an extensive variety of options available from the Wax- oyl Professional Car Care product range. The centre's high standards are confirmed by its Grade A clas- sification from the Malta Insurance Association, which follows Thatch- am UK standards," added Mamo. M&Co entertain guests at the launch of their SS14 collection