Datatrak Holdings recently held its annual general meeting at the Hilton Portomaso. The AGM, which was addressed by group chairman Walter Bonnic and the group’s CEO Joe Fenech Conti, was very well attended by shareholders.

The chairman gave a brief overview of the group’s performance during the past financial year. He reviewed the efforts of the individual company’s that make up the group and was pleased to report that there were substantial improvements in the operations of a majority of these subsidiaries. Mr Bonnici thanked the CEO as well as all his team for their efforts in the past year and commented: “Everything indicates that the group is now set and fully geared, subject of course to both systemic and specific business risks, to generate substantial profits in the future.”

Mr Fenech Conti, in his first review of operations as the group’s CEO, presented the group’s results in more detail. He reiterated that all objectives for the group that had been set out in the group’s prior AGM had been achieved: “Performance in all areas of the group was excellent. Revenue has grown by 17 per cent while costs have dropped by nine per cent with a resulting improvement between 2004 and 2005 in post-tax profits of Lm244,000, bringing the group into a small profit for the first time since its inception.”

The CEO went on to explain the factors that had impacted the group’s performance and outlined what the group’s goals for the coming financial year were. He thanked the board of directors for their unwavering support during the last year and augured that the team spirit in the group will persist thus allowing the group’s expectations to be fulfilled.

Mr Fenech Conti also launched the newly revamped group Web site, www.datatrak.ws, during his speech.

The statutory speeches and voting related to the resolutions presented before the AGM where followed by a reception during which the shareholders where given the opportunity to view some of the group’s products.