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FARSONS REGISTERS IMPROVEMENT WITH CAUTION ON OUTLOOK

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FARSONS REGISTERS IMPROVEMENT WITH CAUTION ON OUTLOOKengThe Board of Directors of the Farsons Group has announced its interim unaudited results for the six months ended 31st July 2022. The Group's performance during the first half of the current financial year reflects the continued economic recovery from the COVID-19 outbreak, as well as the first full 6-month period of trading free of any significant COVID related restrictions. On premise trade recovered strongly as consumers responded enthusiastically to the reopening of bars, clubs, and catering establishments. However, towards the end of the 6-month period, there were signs of consumer restraint returning as mounting inflationary pressures impacted disposable incomes. 

Farsons Group Chief Executive Officer Norman Aquilina said: "In order to maintain the current growth trends, it is essential that the Group remains vigilant in what are rapidly changing market conditions. We are having to respond to unprecedented levels of emerging inflation and shortages of supply of certain key raw materials and finished products. The prospect of a recession across Europe, largely as a result of the energy crisis brought on by the Russia-Ukraine conflict, will gradually also weigh on consumer demand patterns."

 

 

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