Farsons on track for a record year

The MSE equity price index snapped a five-day negative streak as it rebounded by 0.3% to 3,689.068 points. The gains in BOV and BMIT outweighed the declines of APS and MIA while Farsons and Loqus closed the day unchanged. Overall trading activity in equities remained subdued at only €0.03 million.

Simonds Farsons Cisk plc held to the €7.45 level albeit on trivial volumes. Today, Farsons published an updated Financial Analysis Summary showing that revenues are expected to surge by 26% to a record of €115.7 million in FY2022/23 reflecting growth across all business lines as well as the initial contribution from ‘The Brewhouse’. EBITDA is anticipated to climb by 12.6% to €25.6 million which would also be a new all-time high. Overall, the Group is forecasting a net profit of €12.2 million which would translate into a return on equity of 9.2%. In terms of financial position, the gearing ratio is anticipated to ease to 20% from 21% as at the end of January 2022. Moreover, in view of the improvement in financial performance, the interest cover is projected to increase to 26 times whilst the net debt-to-EBITDA multiple is expected to strengthen to 0.68 times.

A single deal of 5,000...