Company Announcements – October 2005
Simonds Farsons Cisk plc On Wednesday 12th of October 2005, Simonds Farsons Cisk published its six-month interim results. During the six-month period ended 31 July 2005, the Group’s turnover increased marginally from Lm13,501,000 to Lm13,660,000. Profit attributable to shareholders decreased from Lm592,000 to Lm207,000. Key factors affecting the trading results under review are: • Lower demand for the Group’s beverage products due to lower economic activity in the tourist trade, as well as the below-average temperatures prevailing in the key months covered by this report; • An increase in turnover and operating profit of Quintano Foods Limited that was acquired in April 2004; • Continuing losses, in total amounting to Lm202,000, in subsidiary companies namely, Guido Vella Limited, Vita Sana srl and Galleria Management Limited; • A lower incidence of fair value gains on investment property of Lm104,000. The Board of Directors is anticipating that its beverage sales in the second half of the year will recover to last year’s levels. It is continuing to address the issues relating to the loss making companies and believes that its strategies will be successful in the short to medium term. Whilst the general economic outlook for the Maltese economy remains difficult, the Board of Directors is confident that the Group is well placed to face the challengingtimes ahead. – DIVIDENDS – The Company paid to the Ordinary Shareholders an interim dividend of Lm90,000 on 27 April 2005, as well as a final dividend of Lm514,000 on 1 July 2005. These dividends have been paid out of tax exempt profits, resulting in a total net dividend to the Ordinary Shareholders of Lm604,000, equivalent to 2c4 per share. Maltacom plc On the 12th of October, Maltacom p.l.c. announced that the Malta Communications Authority has granted Mobisle Communications Limited, a Maltacom subsidiary, a license to provide broadband Wireless Access, through the assignment of radio frequencies in the 3.5 GHz band for this purpose. Through this assignment Mobisle Communications Limited will offer high speed wireless access to data networks which is equivalent to wired broadband technologies such as ADSL or cable modems. The Board of Directors, duly convened on Thursday 13th October, approved the issue of an interim dividend of LM 0.02c per share (after taxation), to all shareholders of the Company whose name appears on the Company’s register at the Central Securities Depository of The Malta Stock Exchange, at the closure of business on Friday, the 21st of October, 2005. This interim dividend will be paid on Monday, the 14th November, 2005, and is being declared out of accumulated profits which were taxable at 30%. Bank Of Valletta p.l.c. The Board of Directors of Bank of Valletta p.l.c. is scheduled to meet on Friday 28th October 2005 to: i) Consider and approve the Group’s and the Bank’s Audited Financial Statements for the financial year ended 30th September 2005. ii) Consider the declaration of final dividend to be recommended to the Bank’s Annual General Meeting.