Farsons Reports €39.1 Million Profit Following Quinco Spin-Off and Strong Core Growth

Simonds Farsons Cisk plc reported a total profit of €39.1 million for the financial year ended 31 January 2026, reflecting both the operating profit generated by discontinued operations and a fair value adjustment arising from the distribution of its food business.

A significant contributor to the result was a one-off gain of €21.9 million recognised following the successful spin-off of the Group’s food business into the newly listed Quinco Holdings plc. The gain represents the difference between the net book value of the food business prior to the transaction and the valuation assigned to the Quinco shares distributed to shareholders.

Excluding the impact of the spin-off, the Group continued to deliver strong operational performance across its core beverage business. Beverage segment turnover reached a record €106.5 million, representing year-on-year growth of 4.6%, while profit before tax from the segment increased by 8.2% to €16.0 million. Group EBITDA rose to €29.2 million, supported by improved operational efficiencies and disciplined cost management. Gross profit margins strengthened to 42.7%, compared to 42.5% in the previous year, despite ongoing inflationary pressures, higher freight costs, and rising labour expenses.

The Group’s total assets exceeded €205 million at year-end.

Chairman Louis A. Farrugia highlighted the Group’s ongoing investment in efficiency and sustainability, including the commissioning of a CO₂ recovery plant, the conversion of boilers to LPG, and continued progress on the €11 million Automated Logistics Warehouse project, which is expected to be completed by the end of 2027.

The Board is recommending a final net dividend of €0.145 per share (€5.22 million). Subject to shareholder approval, total dividends for FY2026 will amount to €0.21 per share, equivalent to €7.56 million.

Trident Estates Reports Strong FY2026 Performance as Occupancy Reaches 92%

Trident Estates plc reported improved financial results for the year ended 31 January 2026, supported by strong occupancy levels at Trident Park during its second full year of operations.

Revenue increased by 10% to €6.1 million, primarily driven by higher occupancy levels across the Group’s property portfolio. Operating profit rose to €4.1 million, while profit after tax reached €7.4 million, benefiting from both improved operational performance and fair value gains.

Reflecting the stronger results, the Board is recommending a dividend of €750,000 for shareholder approval at the upcoming Annual General Meeting, compared to €500,000 distributed in the previous financial year.

Chairman Louis A. Farrugia highlighted that contracted occupancy at Trident Park has now reached 92%, demonstrating continued demand for the development and confidence from tenants and stakeholders.

The significant increase in profitability was largely attributed to the upward revaluation of Trident House following the signing of a promise of sale agreement with BBT plc and OS Developments Limited for a consideration of €29.25 million. The final deed of sale is expected to be completed by May 2028.

Upon completion of the transaction, the Group expects to strengthen its financial position and enhance its capacity to pursue future investment opportunities.

Looking ahead, the Board continues to assess a number of long-term development opportunities linked to the wider Trident Park area, including land adjacent to the development currently owned by Simonds Farsons Cisk plc. Preliminary studies and master-planning exercises are currently underway to evaluate potential mixed-use developments and complementary uses within the area. The company emphasised that these discussions remain at an early exploratory stage, with no decisions yet taken regarding any potential development, transaction structure or implementation timetable.

The company also announced several Board and governance changes. Roderick Chalmers will retire from the Board after many years of service, including his role as Chairman of the Audit Committee. Richard Camilleri and Charles Borg have been nominated for appointment to the Board at the forthcoming AGM. In addition, Matthew Marshall has been appointed Vice Chairman, while Neil Psaila will assume the role of Chairman of the Audit Committee.

Chief Executive Officer Charles Xuereb stated that the Group delivered solid results during FY2026, supported by the successful onboarding of new tenants at Trident Park and a full year contribution from recently leased properties across the portfolio.

Company Announcements:

Hili Properties plc

The Directors have recommended the payment of a final net dividend of €0.0052 per share, payable on 29 May 2026 to shareholders registered as at the close of trading on Wednesday 6 May 2026.

GO plc

The Board of Directors of GO plc has proposed the payment of a final net dividend of €0.09 per share for financial year 2025.

Subject to shareholder approval at the upcoming Annual General Meeting scheduled for 19 May 2026, the final net dividend will be paid on Thursday 2 June 2026 to shareholders on record as at the close of trading on Wednesday 15 April 2026.

M & Z plc

The Directors have proposed a final net dividend of €0.0162 per share to shareholders on the register as at the close of trading on Thursday 28 May 2026, subject to approval at the Annual General Meeting, which has been rescheduled for 3 June 2026. The dividend is expected to be distributed by no later than 26 June 2026.

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