Farsons looks to innovate to maintain growth in fierce competition

Louis A. Farrugia, Chairman of Farsons Group, addresses shareholders. (source: Farsons' media)

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In the light of strengthnening competition, Simonds Farsons Cisk will continue to invest and innovate to further support the group’s growth, the directors announced during the 72nd Annual General Meeting, according to a press statement sent to Business Malta. Cisk beer celebrates its 90th anniversary this year.

“Innovation is now firmly established as a central pillar of our strategic vision and in whatever we do, as success can never be taken for granted in the ongoing attainment of our resilient results,” added Mr Aquilina.

Simonds Farsons Cisk directors announced earlier this year that the group registered a 5% increase over the previous year reaching €99.8m on the value of the products, while profit attributable to shareholders reached €15m, with an increase of 10% from 2018.

“In spite of ongoing market changes and growing competitive pressures, our ability to consistently register year on year improvements in our results is motivating us to further pursue our strategic vision,” said group CEO Norman Aquilina.

“Over the last year, Farsons continued to implement wide-ranging initiatives to embrace our social and environmental responsibilities. We are also actively engaged in the preparation for the introduction of the Beverage Container Refund Scheme which will see the introduction of a compulsory deposit on beverage containers, bringing along additional challenges, particularly in its enforcement,” added Mr Aquilina. “The Group is supporting this measure even if the Authorities still have a lot to do to bring into action a more equitable and broadly represented circular economy in the interest of the environment as a whole.”