The Globalcapital Group has registered €1,878,526 in pre-tax earnings for the first six months of the financial year which ended on June 30.

In an interim directors’ report published on the Malta Stock Exchange, the group reported a healthy and improved performance, especially when compared to the profit before tax of €1,176,197 reported in the corresponding period last year.

Operational profitability during the first six months of 2016 increased to €1,786,920 from €977,795 during the corresponding period in 2015.

During the first half of this year, the group pursued a rights’ issue increasing its share capital by 127 per cent and returning a total net capital injection of €4.7 million. As a result, Investar Plc (formerly EIP plc) increased its shareholding from 8.93 per cent to 52.60 per cent.

Following an extraordinary general meeting on July 22, the company increased its authorised share capital from 30 million to 85 million ordinary shares of  29c1172 each.

It is the directors intention to increase the issued share capital of the Company, subject to any necessary regulatory approvals.

On the basis of these results, there were no longer are material uncertainties that could cast significant doubt about the company's ability to continue as a going concern. Consequently the interim financial statements were prepared on a going concern basis.