MaltaPost has reported a pre-tax profit of €2.90 million in the financial year which ended on September 30, up from a profit of €1.66 million last year.

It said earnings per share had improved to €0.07 for the financial year 2008 from €0.04 in 2007. Revenue increased by 10.51% from €18.53 million to €20.47 million

Cost-to-Income ratio improved to 87% from 92% in line with the company’s commitment to contain costs.

MaltaPost said total assets increased by 11.5% to €21.4 million from €19.2 million in 2007. Shareholders’ funds increased by 6.39% to €9 million.

The Board of Directors is proposing a final dividend of €0.04 per nominal €0.25 share for approval at the Annual General Meeting. The board is also recommending giving shareholders the option of receiving the dividend in cash or by taking new shares of equivalent value.

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