Current Affairs
Simonds Farsons Cisk and MaltaPost register profits

The Simonds Farsons Cisk Group ended its financial year at the end of January with a pre-tax profit of €13.4 million, a profit increase of 18.2% and a sales increase of €95 million.

The Company said these positive achievements are the results of continued economic growth as a result of the boost in tourism. It also said the results were attained as a result of favourable weather conditions for the drinks industry as well as the staging of mass events throughout last year. The Board of Directors recommended an increased dividend of 8.3% to shareholders amounting to €2.6 million.

The Company MaltaPost also announced partial accounts and announced pre-tax profits of €1.3 million during the six months that ended in March, a decrease by €0.5 million over the same period last year. MaltaPost said it is operating in a highly competitive market and although profits had increased so had expenses, including postal expenses charged overseas with the company expressing concerns that its postal tariffs are relatively low when compared to European tariffs.

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