Simonds Farsons Cisk p.l.c. has announced the appointment of Michael Farrugia as Chief Executive Designate, set to assume the role on 1 July 2026. The decision comes as part of the company’s long-term succession planning and coincides with the group’s solid interim financial performance for the six months ending 31 July 2025.

Mr Farrugia, who joined the company in 2006, currently serves as Deputy Chief Executive of the Beverage Business. He will succeed Norman Aquilina, who has led the Farsons Group since 2010 and will continue as Executive Chairman of Quinco Holdings p.l.c., the newly created spin-off focused on the food business.

“Following the completion of the spin-off of the Group’s Food Business into Quinco Holdings, Farsons will return to its roots as a beverage-centric company,” the board said in its announcement.

Financial performance

Farsons reported a strong first half of the year, with turnover from its continuing operations (beverages) increasing by 6.5% to €54.8 million, up from €51.5 million in the same period last year. Profit before tax from continuing operations rose even faster, climbing 11% to €9.1 million compared to €8.2 million in 2024.

When discontinued operations (the food business being spun off as Quinco) are included, total profit for the period reached €9.4 million, up from €8.8 million a year earlier. Earnings per share rose by 6.5% to €0.261.

The group highlighted strong demand for its beverage brands, disciplined cost control, and margin optimisation as key drivers of performance. Exports also played an important role, with growing contributions from established agreements in Australia and a significant milestone entry into the Ghanaian beverage market.

Spin-off and dividends

The upcoming spin-off of the Food Business into Quinco Holdings remains on track, with shares expected to be listed on the Malta Stock Exchange in early October 2025. The entire shareholding in Quinco will be distributed to Farsons shareholders as a dividend in kind, equivalent to €46.8 million, or €1.30 per Farsons share.

In addition, the board approved an interim cash dividend of €0.065 per share (2024: €0.06), amounting to a total of €2.34 million. Shareholders on the register as of 30 September 2025 will receive the cash dividend on 16 October.

Investments and outlook

Farsons continued to invest in logistics, sustainability, and efficiency projects. A major new CO₂ recovery plant became fully operational at the Mrieħel site in August 2025, strengthening security of supply and supporting the group’s decarbonisation efforts. Upgrades to logistics facilities and the phased replacement of the vehicle fleet with environmentally compliant alternatives also featured prominently in the period.

Looking ahead, the group noted that the second half of the year will reflect typical seasonality but said it remains focused on its beverage core. Management highlighted the importance of innovation in low- and no-alcohol alternatives and reaffirmed its commitment to efficiency and resilience as competitive pressures and input costs persist.

“The first half of the financial year has met expectations, yielding another strong set of results despite ongoing challenges,” the board said.