“There is room for us to be reasonably satisfied when one considers the context of the very challenging and complex environment in which we have had to operate,” says CEO Norman Aquilina, referencing Farsons Group’s financial results from January 2020 to January 2021, which reflected a disruption in the Group’s year-on-year growth in turnover and profitability levels due to COVID-19.
The Group reported profit before tax for the year of €4.4 million, reflecting a decrease of €7.9 million – 64 per cent lower than the previous year.
Group turnover for the financial year ending January 2021 amounted to €73 million, compared with €103.5 million the previous year, a decrease of 29.4 per cent.
Mr Aquilina says that, faced with this scale of disruption and decline in consumption, Farsons Group undertook a number of measures to ensure a safer, yet productive working environment, “whilst re-aligning our cost structures to preserve the financial strength we have developed over the decades”.
“As the spread of the contagion is contained and COVID-19 restrictive measures are lifted, we are preparing for better days,” he adds.
“We remain focused, motivated and hopeful – not only in overcoming the pandemic and regaining lost ground but also to pursue our long-term growth strategy,” he affirms, while praising the Group’s employees who understood, supported and responded to the measures taken to mitigate the impact of the pandemic.
As Vistage grows from strength to strength both locally and internationally, this newly created role focuses on growth strategies.
Albert Alsina was a guest speaker at the Japanese Association of Impact Investment event and was also present at PRI ...
He has more than 20 years of experience working in the hospitality industry.
The company announced that his new position comes as it continues to give priority to developing its 'footprint'.