Medserv announces record profit, tower restoration project
Oil services company Medserv has announced a record pre-tax profit of €3.1 million in 2009 (2008: €975,421) , despite the difficult international economic scenario.
"Despite the depressed economic environment for the reporting period the Group managed to achieve record results. The Malta subsidiary was successful in attracting to the island the servicing of rigs and other specialised vessels prior to a pre-spud operation. Medserv Misurata FZC, the Libyan subsidiary continued to perform strongly in supporting off-shore exploration operations and contributed 31% of the earnings attributable to the owners of the company," Medserv said.
The company also announced it will sponsor Din L-Art Helwa and Munxar Council's restoration of Xlendi Tower in Gozo.
“This has been on our agenda for a while now. We want to be able to give something back to the community and build on our social responsibility activities. We wanted to be associated with an independent organisation that is working across the country in the field of protection of heritage. Din l-Art Helwas was an obvious choice” said Anthony Diacono, company chairman.
The restoration will be a joint venture between Din l-Art Helwa and the Munxar Local Council and expenses will be shared on a 50/50 basis. The project is projected to start in a few months' time and completion is expected within about three years.
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Daniel Klaus
Apr 9th 2010, 14:38
Well done, an example to be followed
A. Sultana
Apr 9th 2010, 14:10
One question... Why would Din l-art helwa not mention Medserv at all on their website? I find this totally inappropriate if Medserv really did finance 50% of the money.
http://www.dinlarthelwa.org/content/view/594/68/
R. Azzopardi
Apr 9th 2010, 12:13
Lovely news on all fronts! First of all, well done Medserv. I used Medserv's services between 1998 and 2004 (I only stopped because I had changed jobs) and saw Medserv's activities rise to unprecendented levels. At the beginning of the said period, activity was almost at a standstill. Within a few months, things started to move and look at the company today.
The staff had taken in a lovely labrador cross bitch who would play fetch with everyone, including the CEO!
I'd also like to congratulate Medserv for sponsoring the restoration of the Xlendi tower. This tower is very close to my heart and I make it a point to go for a long walk, especially at night on the rocks around and beneath the tower. I have always wondred why the tower is built on such low ground, contrary to the other towers in the vicinity. How could signals sent from the Xlendi Tower be seen from the other coastal towers? Perhaps someone could shed some light on this? It has intrigued me for quite a while.
Alfred Grech
Apr 9th 2010, 11:25
Medserve deserves an appreciative thanks for this initiative. Hope other companies will follow this example and help in the restoration of many of our gems.
A. Sultana
Apr 9th 2010, 09:42
Been in this area around a month ago on a Sunday and although the tower is not exactly in the state of collapsing it really does need some attention especially in the cleaning of debris in the surrounding area.
It's good to see there are people out there who still care about our heritage. Good job.
adrian gatt
Apr 9th 2010, 09:25
Prosit! May other follow your example.