Issue link: https://maltatoday.uberflip.com/i/679878
42 Events maltatoday, SUNDAY, 15 MAY 2016 Farsons registers another solid performance SIMONDS Farsons Cisk plc registered another year of solid and profitable growth. While Group turnover for the finan- cial year ended 31 January 2016 reached €85 million, represent- ing a robust growth of 7.2% over the previous financial year's record results, the profit before tax from continuing operations increased by 22.8% to €10.1 mil- lion. The strong performance for the year was positively influenced by a vibrant economic environment spurred on by record tourist ar- rivals and increased consumer demand for Farsons prod- ucts. The Group also attained significant i m p r o v e m e n t s through the on- going imple- mentation of its twin strategy of innovation and exports. The in- creased market suc- cess is also due to the significant investments that the Board has made in recent years in, among others, human resources, operational assets and marketing strategies. Farsons is currently commis- sioning a new €27 million beer packaging investment. Further- more, the company has just em- barked on an extension to its Logistics Centre and adminis- tration block to be completed by mid-2017. Group Chairman Louis A. Far- rugia said: "Farsons Group owns substantial property assets which are not an integral part of the bev- erage operation while having the potential to provide a better re- turn to shareholders if such assets were to be governed by a focused board of directors and managed by a dedicated management team with the right skills and time to manage the property business. "As part of our plans for the in- tended spin-off of non-operation- al property assets into a newly listed public limited company still to be approved by general meeting, much work is underway in preparation of this important and complex decision. The pro- posed idea of rehabilitating and converting the old brewery build- ing into an office business park with an accompanying car park, a visitors' centre, exhibiting the Farsons Story, as well as food and beverage outlets, is a feasible in- vestment which can benefit and enhance shareholder value." Farsons Group Chief Executive Norman Aquilina commented, "The Farsons Group has, once again, delivered a very encourag- ing performance, with improved year-on-year results. The fact that we were able to main- tain such a consistent momentum over the past years, despite fierce and ever- present compe- tition, certainly gives credibility to our strategies. It also demonstrates our Group's resilience and our ability to respond effectively to evolving, and in- creasingly complex, market dynamics. "While maintain- ing our commitment towards quality, our Group has under- taken strategically important investments which will now en- able us to sustain our growth in the long term. Undaunted by the scale of challenges ahead, we are also embarking on a number of important initiatives to ensure that we continue to deliver locally and internationally, as we con- tinue to innovate and develop our brands," said Aquilina. Shareholders' funds increased by €9 million to exceed €109 mil- lion. EBITDA (earnings before in- terest, tax, depreciation and am- ortisation) for the year amounted to €18.7 million compared to €17.2 million last year. The Board of Directors is rec- ommending an increased final dividend of a total declared divi- dend for the year of €3.2 million. This figure is €0.2 million higher than the amount declared last year. Farsons is currently commissioning a new €27 million beer packaging investment Mother and daughter win a €100 top up on their tallinja card ALESSIA and her mother Marlene Debattista were the winners in the Mother's Day Photo Compe- tition organised by Malta Public Transport, each receiving a €100 top up on their tallinja card. Ales- sia captured the winning selfie while travelling on a bus with her mother. The mother and daughter pair leave home together every morning and travel by bus to work and school respectively. Alessia convinced her mother to participate in this competition and they were both delighted with the prize as it is something that they both could use. Mar- lene described how the public transport service has improved over the past year, with buses becoming more reliable and ef- ficient. "We are always looking for ways in which we can reward our loyal customers," explained Daniel Grech, Commercial Di- rector of Malta Public Trans- port. "On the occasion of Moth- er's Day, we are very happy to be giving Mrs Debattista and her daughter a prize that will allow them to travel for free for a few months." Winners: Marlene Debattista and her daughter Alessia Delicata Privilege Card launched DELICATA is taking all the bother, formalities and purchase obliga- tions out of the concept of the wine club as you know it and introducing a more suave kind of wine lovers' privilege card. The Privilege Card is aimed at all those who wish to share in Delicata's love for wine, food and gracious hospitality. "We would like to see true wine enthusiasts sign up for all the right reasons," said director Mario Deli- cata. "We want to open our cellar doors wide and often in the hope that people get really acquainted with Delicata as Malta's passionate family of winemakers". Card holders will have admission to bespoke occasions which will be the place where friends and fami- lies come to make memories. Such special events will include intimate wine tasting sessions at the winery, wine master classes, themed vine- yard tours and private gourmet evenings at Delicata's 17th century barrel vault. The Delicata Privilege Card also entitles the holder to other exclu- sive benefits such as free Delicata wine when dining out at certain restaurants and wine bars. These bonuses will be advertised in social media, the wine and food sections of national newspapers and lifestyle magazines. The new Delicata initiative prom- ises to be about the celebration of wine and the lifestyle that comes with it. The winery stresses that its least priority is direct to consumer sales from the company's premises. Unlike most wine clubs, there is no obligation to purchase wine to join, no regular cellar door sales and no promotional email blasts. Membership is completely com- plimentary either upon invitation by the Delicata winery or upon acceptance of your enrolment through the winery's dedicated web page, www.delicata.com/card. Every Delicata Privilege Card holder will also automatically be entitled to unrestricted access to 'In2Wine', the winery's original 24/7 private online channel for wine knowledge. And, as yet an- other extra advantage, privilege cards will double up as a velvet rope pass which is valid at Delicata wine events with fast-track and hospital- ity services. Wine enthusiasts who wish to apply for the newly launched Deli- cata Privilege Card, can register on www.delicata.com/card/ or call the Delicata Privilege Card Desk on +(356) 21 825 199 for further details Has any of your fruit travelled a long route? IN light of the success of the Inter- national Food Festival in Mdina this weekend, May 13 to 15, let's take a look at a small part of the massive global fresh fruit trading business. Needless to say tropical fruits, which most of us consider a lux- ury, grow in countries far beyond our reach; our only means of en- joying them is through importa- tion. A favourite imported tropi- cal fruit is the Mango, making it a great seasonal summer treat alongside other worthy mentions including papaya and pineapple. But what about the fruit that you consume on a daily basis which is not locally produced? Accord- ing to F.A.O. statistics, the highest traded fruit is the banana, grow- ing in great quantities of around 80 million tons per year in world- wide regions. Fruitland Company brings its signature GIOIA® ba- nanas specifically from Central America due to their sweeter taste and higher quality. Initially, banana importation was an unsustainable business due to the low technology avail- able; the easily bruised fruit used to arrive at its destination too ripe to make a profitable margin. However, thanks to the introduc- tion of refrigerating technology and modern transport services, bananas could be stored properly and travel further, creating a mul- timillion trade business. GIOIA® bananas, which arrive at the Fruit- land warehouse green, are espe- cially ripened to ensure the finest quality for clients. Fruitland Company is happy to sponsor GIOIA® bananas for this event in collaboration with the Ministry of Energy and Health. For more information, call 7933 2425 or visit our premises in the Ta' Qali Area