News Details

Company Announcement - Interim Directors’ Statement

The following is a Company Announcement issued by MaltaPost p.l.c. pursuant to the Malta Financial Services Authority Listing Rules.

Interim Directors' Statement


It is considered that during the period 1 April 2011 up to the date of this Announcement, no material events and/or transactions have taken place that would have an impact on the financial performance of the Company, such that would require specific mention, disclosure or announcement pursuant to the applicable Listing Rules.

Turnover figures are marginally over those for the same period last year and profitability on normal trading activity is also in line. However, while positive fluctuations on the company's foreign exchange exposure benefited MaltaPost's revenues during the last financial year, this was not repeated during the period under review. Constructive measures are in place to mitigate any future adverse fluctuations.

The Company's efforts at increasing and enhancing the range of its ancillary services to complement existing ones continue unabated. The resultant tangible benefits of these efforts are expected to be reflected in the relevant revenue streams within the medium term. In the meanwhile, the Company has also continued with consolidating its re-branding exercise, the branch upgrading programme, as well as the expansion of further non-core activities.

The directors remain confident that, despite challenging market conditions both locally and abroad, MaltaPost will, barring unforeseen circumstances, be able to deliver yet another satisfactory performance during the second half of the financial year.

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