Steady growth in Group Turnover after acquisition of businesses but lower than average temperatures affects local beverage sales 

Simonds Farsons Cisk plc announced a steady increase in Group Turnover of 5.7% as a result of the consolidation of the newly acquired businesses of Guido Vella Wines & Spirits Wholesalers and that of Quintano Food Importers.

Group Turnover for period reached Lm13.5 million with a Gross Profit of Lm3.2 million. Profit attributable to shareholders amounted to Lm504,000.

Turnover suffered in the traditional beverage businesses as a result of lower than average temperatures during the peak consumption months.  The reduction of levy tariffs on May 1 had a negative impact on local production in the initial period until consumers became accustomed to the new price positions in the market place.

The Board of Directors expect the second half of the results of the financial year to 31 January 2005 to be an improvement over the same period last year due to the increase of the Group's business in the importation sector which is less seasonal than that of the Group's traditional business.