GlobalCapital plc – Interim Directors’ Statement

GlobalCapital p.l.c. announced that since the publication of its annual results for the financial year ended 31 December 2012 (issued on the 25th April 2013), no material events or transactions have taken place that would have an impact on the financial position of the Company, such that would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules. The Company’s operating results for the first quarter of 2013 registered an improvement over the same period last year. A contributing factor was the increase in the Malta Stock Exchange index registering positive fair value movements in the period under review compared to the adverse movement registered in previous year’s first quarter. As previously announced the Company repurchased 500,000 of its 5.6% unsecured bonds from its bond holders during the month of May 2013.

Despite the challenging economic conditions in the eurozone and local economic conditions, both attributing a level of uncertainty in the market, the Company’s revenue targets in the first quarter of 2013 were maintained and compare well to previous year. The Company continues to contain expenses, which stood at lower levels compared with the same period last year. Following active steps taken to improve productivity and operational efficiency the overall results of the Company compare favourably with the same period in 2012.

To view the official company announcement, click here.