Malta Freeport Corporation Ltd registered a profit before tax of US$15.8 million last year: $10.4 million less than the $26.2 million registered in 2011.

The corporation’s audited financial statements show that it had an increased revenue of $9,819,421 ($8,106,364 in 2011) and reduced staff and other administrative costs.

It paid $21 million in income tax as against $30.8 million the previous year. It had assets of $100.27 million.

The directors consider that the year-end position is satisfactory and that the company is well placed to sustain the present level of activity in the foreseeable future.

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