Simonds Farsons Cisk plc Recommends Final Dividend for the Year Ended 31 January 2015, Payable on June 26, 2015; Reports Audited Consolidated and Company Earnings Results for the Year Ended 31 January 2015; Announces Expansion Plans
April 29, 2015
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The Board of Directors of Simonds Farsons Cisk plc has resolved to recommend for the approval of the Annual General Meeting the distribution, out of tax exempt profits, of a final net dividend of 2,000,000, that is 0.0666 per ordinary share of 0.30, to be paid by not later than 26th June 2015. The Board of Directors has established 27th May 2015 as the Effective Date on which all shareholders, then on the register of members, shall be entitled to receive dividend.
The company reported audited consolidated and company earnings results for the year ended 31 January 2015. On consolidated basis, revenue was 79,206,000 compared to 78,337,000 a year ago. Operating profit was 9,695,000 compared to 8,417,000 a year ago. Profit before tax was 8,235,000 compared to 6,875,000 a year ago. Profit for the year from continuing operations was 13,457,000 compared to 6,512,000 a year ago. Profit for the year was 8,009,000 compared to 6,325,000 a year ago. Earnings per share for profit during the year were 0.27 compared to 0.21 a year ago. Net cash generated from operating activities was 15,643,000 compared to 11,108,000 a year ago. EBITDA for the year amounted to 15.9 million compared to 14.2 million last year. The factors impacted the results for the year in a positive manner are further growth in the local economy, record tourists arrivals and expenditure, a positive performance of key, beverage brands, new product launches, overhead cost containment and significant reductions in raw material prices.
On company basis, revenue was 44,189,000 compared to 43,247,000 a year ago. Operating profit was 8,290,000 compared to 6,783,000 a year ago. Profit before tax was 6,955,000 compared to 5,479,000 a year ago. Profit for the year from continuing operations was 12,620,000 compared to 5,479,000 a year ago. Profit for the year was 5,580,000 compared to 5,479,000 a year ago. Net cash generated from operating activities was 12,442,000 compared to 10,484,000 a year ago.
The development of the new 27 million beer packaging facility is progressing on schedule and is planned to be completed by April 2016. The completion of this investment shall strengthen the group further and enable it to penetrate the targeted overseas markets more aggressively. Furthermore, the franchised food business shall expand further through the opening of two new restaurants by the end of the current financial year.
Simonds Farsons Cisk plc is a Malta-based holding company. The Company is engaged in manufacturing of branded beers and beverages, including a Cisk range of beers, Blue Label Amber Ale, the Kinnie range of soft drinks and San Michel table water among others. The Company segments include Brewing, production & sale of branded beers & beverages; Importation, wholesale & retail of food & beverages, including wines & spirits; and Operation of franchised food retailing establishments. The Company owns a range of beers and ciders brands, including Cisk Lager Beer, Cisk Excel Low-Carbohydrate Lager Beer, CISK 0.0 Alcohol-Free Lager BeerCISK 0.0 Alcohol-Free Lager Beer, Cisk Pilsner, Cisk Excel Low-Carbohydrate Lager Beer, CISK 0.0 Alcohol-Free Lager Beer, Cisk Pilsner, Cisk Export Premium Lager, Cisk Chill Lemon, Cisk Chill Berry, Cisk Chill Ginger & Lime, and others. Its non-alcoholic beverage brands include Kinnie, Diet Kinnie, Kinnie Zest, San Michel, and others.
Simonds Farsons Cisk plc Recommends Final Dividend for the Year Ended 31 January 2015, Payable on June 26, 2015; Reports Audited Consolidated and Company Earnings Results for the Year Ended 31 January 2015; Announces Expansion Plans