Upbeat GlobalCapital reports positive interim performance

GlobalCapital p.l.c. has announced it continued its positive performance for the period January to September 2015.

It announced an interim profit before taxation of €1,176,197 compared to a loss of €966,897 for the same period in 2014.

The Group had also announced a profit after taxation of €222,671 for the financial year ending in 2014, marking the Group’s return to profit territory for the first time in the last seven years.

Earlier this year, GlobalCapital p.l.c. reported that a positive trend that started for the company in the second half of 2014 has been sustained throughout the first six months of 2015 as the group’s operations remained in positive territory for two consecutive reporting periods covering twelve months. This positive trend has also continued to generate more revenue throughout the third quarter of 2015 until 30 September 2015.

“The aggressive transformation strategy aimed at generating revenue growth, reducing operational costs and ensuring long-term financial stability continues to generate the desired results for the group and this success has allowed the positive performance to continue throughout the reporting period,” GlobalCapital said.

Insurance subsidiary GlobalCapital Life Insurance registered further growth during the first nine months of 2015 when compared to the business registered during the same reporting period in 2014.

Further action was taken over the last months to continue the divestment process of the group’s local property portfolio.

Malta-based investors EIP p.l.c. are still intent to support the company in any capital increases after purchasing the entire share allocation of Aberdeen, amounting to 8.93% shareholding in GlobalCapital p.l.c.