PBS has claimed that Malta's participation in the Eurovision Song Contest boosted advertising revenues by 120 per cent.
In a statement, PBS' board of directors said that the project had not turned to government funds available as part of the its Public Service Obligations.
The Board congratulated singer Ira Losco and her manager Howard Keith Debono for their professionalism throughout the contest, as well as PBS CEO Anton Attard for having managed to deliver a "top quality production as well as this positive financial result."
Last week, Times of Malta had reported that PBS officials were pulling out all the stops to ensure Maltese success at the Eurovision, with a 'practically limitless' budget that far exceeded that of previous years.