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MW 10 MAY 2017

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maltatoday, WEDNESDAY, 10 MAY 2017 17 Events Farsons registers another solid performance SIMONDS Farsons Cisk plc reg- istered another year of solid and profitable growth. Whilst Group turnover for the financial year end- ing 31st January 2017 reached an all time high of €88 million, repre- senting a marginal increase of 2% over the previous financial year's record results, the profit for the year amounted to €12 million, an increase of €0.9 million or 8% com- pared to the previous year. The strong performance for the year was registered across the Group on varying levels thanks to a series of favourable factors name- ly, the growth of the economy, an improved beer portfolio that was possible as a result of the invest- ment into new beer products and packages together with the im- proved performance of the Group's subsidiaries. These positive re- sults are even more relevant given the increased depreciation charge arising after the commissioning of the new beer packaging facility, On the other hand, the continued spotlight on obesity and sugar con- sumption, coupled with increased taxes, impacted the consumption of soft drinks. Group Chairman Louis Farrugia said: "Last year's commissioning of the new state-of-the-art beer packaging facility has now placed the company in a much better po- sition to pursue our growth ambi- tions through our export strat- egy. The improved results across the Group's activities have been achieved through the determined effort of all Group employees led by a committed management team". Farsons Group Chief Executive Norman Aquilina commented, "The Farsons Group has, once again, delivered a very encouraging performance, consistently deliver- ing improved year-on-year results. Moving forward, while continuing to seek growth opportunities for the group in our domestic market, we will maintain a strong focus on innovating and internationalising our business even further." The Board believes that the Group is adequately positioned to offer the required resilience while being able to respond effectively to evolving and increasingly complex market dynamics, both locally and overseas. The Group's earnings before in- terest, taxation, depreciation and amortisation (EBITDA) for the year reached €21 million, a signifi- cant increase of €2.5 million over the financial year ended January 2016. The gearing ratio stood at 22% compared to 18% for the previ- ous year while Shareholders' funds increased by €14 million to exceed €123 million (January 2016: €109 million). The Board shall be seeking the Shareholders' approval at the forthcoming Annual General meeting to implement the pro- posed Spin-off of its property port- folio that is intended to be effected by way of a distribution in specie of its investment in the property company. It is the intention for the property company to eventually file an application with the Listing Authority for admission to listing of its shares on the Malta Stock Ex- change. The Board of Directors is recom- mending an increase in its final dividend of €0.2 million. As a re- sult, once the final dividend is ap- proved during the Annual General Meeting, declared dividend relat- ing to the financial year ended 31 January 2017 shall amount to €3.4 million. All set for the Red Bull Beat It finals LAST week's Red Bull Beat It auditions saw around 50 danc- ers taking part in this revolu- tionary street-dance contest. Judges Anthea Zammit, Georgia Evans, Marley Laga- na, Harvey Massok, Antonio Whyte, and Matthew Saliba selected the top dancers to take part in the final. This will take place on Saturday 13th May 2017, at Great Siege Square in Valletta. The 16 finalists of Red Bull Beat it are; Lawrence Mifsud, Leonel Viloria Aquino, Emma Chetcuti, CJ, Annette Atanda, Cyril James, Daniele Pas- sarello, Christian Cali, Mark Scerri, Liston Bongailas, Pirte Marius Alexandru, Luke Miz- zi , David Spok, Patrick Laera, Cheryl Lofreda, and Lucas Roque Machado. All those attending the event will decide who the best dancer is and who will win the competition. Spectators will get a choice to vote for the blue or red corner in a series of one-on-one dance battles. The ones with the most votes will then win the dance battle. Further information about the event can be obtained by following the event page on Fa- cebook – Red Bull Beat it 2017 // Malta. New state-of-the-art beer packaging facility placed Farsons in a much better position to pursue growth AS part of Fundación MAPFRE's educational programme entitled 'Caqlaq', the Malta Volleyball As- sociation will be organising a MiniVolley Festival for boys and girls aged 14 and under. During the festival, children will have the opportunity to learn about and play volleyball in a fun envi- ronment. The event, which will take place this Sunday 14th May at Cottonera Sports Complex be- tween 9.30am and 12.30pm, is be- ing held under the supervision of the Malta volleyball national team coach, Brazilian Edvaldo Carvalho da Silva. This year, the focus of the Ċaqlaq programme is on creating aware- ness and the enjoyment of physi- cal exercise amongst school chil- dren. For this year's edition of 'Ċaqlaq', Fundación MAPFRE has teamed up with the Malta Volley- ball Association (MVA), which is implementing the programme on its behalf. As part of the 'Caqlaq' programme, the MVA is conduct- ing a series of visits to primary and secondary schools, and organis- ing events for schoolchildren. In line with the theme of this year's programme, 'Let's all play', these activities focus on giving children exposure to physical activity with- in a fun environment, while ena- bling them to experience aspects of physical activity, such as basic motor skills, agility, movement co- ordination, and teamwork. MiniVolley Festival for Children this Sunday

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