Malita Investments plc – Announces approval of Financial Statements and dividend proposal

The Company registered a profit before tax of €8.26 million, down from €16.86 million in 2015. Revenue for the period under review remained stable at €6.97 million from the previous €6.94 million in 2015. The decrease in profit before taxes can be attributed to the change in fair value of investment property which was valued at €11.61 million in 2015 compared to a revaluation of only €3.02 million in 2016.

The Company continued to receive ground rents from the Malta International Airport (MIA) and Valletta Cruise Port (VCP) in respect of properties on which Malita owns the dominium directum. In addition, the Company receives lease income in respect of the Open Air Theatre in City Gate, Valletta and a penalty from Government until the completion certificate of Parliament Building in Valletta is issued.

The Directors recommend the payment of a final gross dividend of €3,376,864 or €0.0228 per share (December 2015: €3,258,377 or €0.0220 per share), equating to a final net dividend of €2,194,962 or €0.01482 per share (December 2015: €2,117,945 or €0.0143 per share).

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