The Annual General Meeting of MaltaPost p.l.c. was held yesterday at the Corinthia San Gorg, St. Julians. Shareholders were presented with the Audited Financial Statements of the Company for the financial year ended September 2008.
For the year ended 30 September 2008, MaltaPost p.l.c registered a Profit before tax of €2.90 million as compared to €1.66 million last year, representing an increase of 74 per cent.
Earnings per Share improved to €0.07 for the financial year 2008 from €0.04
in 2007. Revenue increased by 10.51 per cent from €18.53 million to €20.47 million. Cost commitment to increase efficiency. Total assets increased by 11.5 per cent to €21.4 million from €19.2 million in 2007. Shareholders’ funds increased by 6.39 per cent to €9 million.
Maltapost Chairman Joseph Said addressed shareholders present and referred to the highlights of 2008 including the Initial Public Offering when Government divested 40 per cent of its holding in the Company.
Mr Said indicated that MaltaPost planned to continue enhancing its quality of service as well as expand its operations to new areas, such as financial services.
After the introduction of MaltaPost p.l.c. on the Malta Stock Exchange, Lombard Bank Malta p.l.c. acquired a further 3.8 per cent stake in the Company increasing its majority shareholding to 63.8 per cent. This move clearly expressed Lombard Bank’s commitment to MaltaPost.