MaltaPost have announced that for the year ended 30th of September 2008, they registered a profit before income tax of €2.90 million as compared to €1.66 million last year, representing an increase of 74%. Earnings per share has improved to €0.07 for the financial year 2008 from €0.04 in 2007.
– Revenue increased by 10.51% from €18.53 million to €20.47 million
– Cost-to-Income ratio improved to 87% from 92% in line with the Company’s commitment to contain costs
– Total assets increased by 11.5% to €21.4 million from €19.2 million in 2007
– Shareholders’ funds increased by 6.39% to €9 million
The Board of Directors is proposing a final dividend of €0.04 per nominal €0.25 share for approval at the Annual General Meeting. Once approved at this Meeting the dividend will be paid on the 4th of March 2009 to shareholders who are on the Company’s Register of Shareholders as at the22nd of January 2009. The Board is also recommending giving shareholders the option of receiving the dividend in cash or by taking new shares of equivalent value. The Attribution Price at (which the new shares to be issued will be determined) has been set at €0.77 per nominal €0.25 share.
They said that the past year has been a challenging one for the Company where MaltaPost p.l.c experienced an overall increase in business. Two events during the past year, namely the increased volumes during the General Election and the philatelic/numismatic issues commemorating the introduction of the euro enhanced performance even further. The Board is cautiously confident to face the challenges for the year ahead and to dedicate all its resources to maximise every business opportunity for the benefit of all stakeholders.