Issue link: https://maltatoday.uberflip.com/i/388498
Events 48 maltatoday, Sunday, 28 September 2014 Farsons reports a consistent and profitable six monthly performance Farsons Group reported a margin- ally improved six monthly perform- ance ending 31 July, when compared to the same period of last year. While turnover exceeded €41 mil- lion, profit for the period after tax amounted to €3.95 million. In reviewing the performance of the Group's business, Farsons Group Chief Executive Norman Aq- uilina said: "Despite the highly com- petitive environment, the beverage business in particular, continued to deliver a resilient performance, re- sponding well to market forces". He added that "while innovation and exports continued to contribute to- wards these results, targeted export growth remained a challenging ob- jective, particularly in view of the recent turmoil in the North African region". The franchise food business has been steady, whilst the food impor- tation arm of the group is undergo- ing a number of changes aimed at improving the business perform- ance. Commenting on the way forward, Aquilina stated that "Efficiency im- provements arising from targeted investments along with cost con- tainment, together with product innovation and export growth will continue to be areas of focus and in line with the group's strategic vi- sion". On the investment side, construc- tion works on the new €27 million state-of-the-art beer packaging fa- cility are progressing on schedule and the targeted completion date is April 2016. The Group's Chairman, Louis A. Farrugia referred to the company announcement issued on 17 Sep- tember 2014, where the board ap- proved a concept and design budget for the initial phases concerning the re-use of the non-operational land at Mriehel, referred to as the Far- sons Business Park, which work is expected to be completed by June 2015. "This is another exciting phase in our history which implies a major commitment to the re-organisation of the corporate structure of the Farsons Group". Mr Farrugia added that the board will be considering the proposal to spin-off the group's non-core property interests into a separate and distinct public limited company. Through this spin-off, it is envisaged that the shareholder value will be enhanced. The board of directors also rec- ommended an interim dividend of €1 million, similar to last year, and equivalent to €0.0333 per share. Such dividend will be paid out of tax exempt profits, payable on 17 Oc- tober to those registered ordinary shareholders as at 3 October. iGaming Tech Limited moves to SmartCity Malta iGaming Tech Limited has recently relocated to Malta and has chosen to set up its offices at SmartCity Malta (SCM). The company is an igaming provider with a class 4 license, offer- ing solutions for software vendors who host and manage remote gam- ing operators all over the world. With established clients such as Betent, PotterBet, BetOne365, Ali- baba and Flybet365, iGaming Tech Ltd. is currently operating from building SCM01 at SCM. The company is also simultaneously furnishing its main offices at the adjacent building, SCM03 which it will be moving into by the end of this year. With 24/7 operations, SCM is the ideal project in Malta to facilitate iGaming Tech's success through a world-class intelligent infrastruc- ture designed for assured business continuity, a thoughtful environment and a responsive support system. Speaking about the reasons why iGaming Tech Limited decided to relocate to SCM, the company CEO, Ing. Fab- rizio Farina said: "Smart- City Malta has been consistently enhancing its corporate identity and networking potential. It also provides its business partners with a progressive integration of technol- ogy and services, a state-of-the-art infrastructure, as well as various business networking opportunities, which is why we are delighted to be signing on with the project." European Move week takes Malta by storm Last Saturday thousands of Europe- ans, including a group of Maltese, simultaneously danced in a cho- reographed performance in several countries throughout the continent. The Flash Mob was to promote the pan-European MOVE week which will kick off on the 29th of Septem- ber and continue until the 5th of Oc- tober. The Maltese dancers danced in Republic Street and on the bridge leading into Valletta. MOVE week was launched ear- lier this month by the Parliamentary Secretary for Research, Innovation, Youth and Sport, Chris Agius MP, together with Valletta 2018 Chair- man Jason Micallef and KMS repre- sentative Mark Cutajar in Valletta. KMS took up this initiative, rec- ognising the importance of Malta teaming up with International Sport Associations such as ISCA and cre- ating awareness of the importance of physical activity. This is the second time Malta is taking part in MOVE week and the number of activities has more than doubled. So far the total sum is 46 activities spread all over Malta and Gozo and the number is on the increase. Kunsill Malti għall-Isport is or- ganising five mass activities, three of them will raise funds for three different charitable organisations, the Community Chest Fund, Dar tal-Providenza and PuttinuCares. The official opening of the 2014 MOVE week will be in Republic Street, Valletta and the closing ac- tivity will take place in Pretty Bay, Birzebbuġa. All activities are free and have been made possible with the help of a number of local councils, sport and culture associations and indi- viduals. More information is on the Malta Move page on Facebook.