|
GlobalCapital has registered a net profit before tax of LM 2,625,603 for the year 2005. This is an 87% increase in net profit before tax over the previous year with earnings per share increasing to 12c2 from 8c in 2004. The profit after tax represents a return on shareholders’ funds of 14.4% compared to 10.6% in 2004.
The board of directors is recommending to the shareholders in the Annual General Meeting to be held on 24 May 2006, the payment of a final ordinary gross dividend of 1c5 together with a special dividend of 3c gross – giving a total final gross dividend of 4c5 per ordinary share. Taking into consideration the interim dividend of 1c5 gross paid in August 2005, the total dividend payout for 2005 is of 6c gross, representing a 100% increase compared to 2004 (3c gross). The dividend will be payable to all shareholders who are on the company’s register of members on 24 April 2006.
“The dividend being proposed for 2005 confirms the will of the Board and management to add value for the shareholders. We are committed to grow the company and increase and diversify its sources of revenue. Our policy is to distribute as much of the profits as possible to our shareholders, while at the same time ensuring that a capital base sufficient to attain the company’s growth objectives remains solidly in place” said Christopher J. Pace, Chairman of GlobalCapital.
GlobalCapital’s net assets have continued to increase from Lm9,970,029 at the end of 2004 to Lm11,197,503 at the end of 2005 – an increase of 12.3%.
“We have achieved strong results in all our main areas of business: investments, insurance and property,” said GlobalCapital’s CEO, Nicholas Portelli. “This significant increase in returns and shareholder value reflects our commitment to innovation, the provision of a variety of attractive products, and quality service. These very positive results encourage us to develop the business further, continue to deliver strong results based on solid growth, to the benefit of all our shareholders and clients.”
GlobalCapital is one of Malta’s leading financial services organisations and is listed on the Malta Stock Exchange. As at 24 March 2006 it has a market capitalisation of just over Lm26 million, almost 2000 shareholders. Just over 8.9% shareholding is held by the British investment services company Aberdeen Asset Management PLC, which has board representation through a director on the main board of GlobalCapital.
The Group has been operating within the financial services field for the past 19 years having started out under the name Globe Financial Investments Ltd in 1987. Since then the Company has grown steadily with a current staff complement of over 160 people. Its principal areas of business are the sale of investment products, fund advisory services, back office administration services, private health insurance through its representation of BUPA Insurance Ltd, life insurance, insurance broking and property management and consultancy services.
|
