Higher profits, revenue for Maltapost plc

Maltapost registered a profit of €2.9 million before tax last year, an increase of 74 per cent over 2007, shareholders were told at yesterday's annual general meeting. Chairman Joseph Said reported that revenue increased by 10.5 per cent from €18.53...

Maltapost registered a profit of €2.9 million before tax last year, an increase of 74 per cent over 2007, shareholders were told at yesterday's annual general meeting.

Chairman Joseph Said reported that revenue increased by 10.5 per cent from €18.53 million in 2007 to €20.47 million and earnings per share went up from €0.04 in 2007 to €0.07.

The company's commitment to increase efficiency paid off with a rise in cost-to-income ratio to 92 per cent from 87 per cent.

The shareholders' funds increased by 6.39 per cent to €9 million, while the total assets increased by 11.5 per cent from €19.2 million in 2007 to €21.4 million last year.

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