Malta’s quad-play telecoms provider GO announced its financial results for the year ended 31 December 2007. The group maintained both its turnover and profit levels. Last year’s revenue amounted to Lm56.6 million (e131.8 million), which is above 2006 turnover that stood at Lm55.4 million. The group’s profit before tax is Lm11.9 million or e27.7 million (in 2006: Lm12 million).

This profitability represents a return of 14.1 per cent (2006: 14.4 per cent) of the average shareholders’ funds and of 10.4 per cent (2006: 10.8 per cent) of the average total assets employed.

The gross margin for the year amounted to Lm22.3 million or e51.9 million (2006: Lm25.6 million), equivalent to 39.3 per cent (2006: 46.1 per cent) of total revenues. Net operating costs excluding voluntary retirement costs. VAT claim refundable amounted to Lm46.4 million or e108.1 million (2006: Lm40.7 million) and mainly represent interconnection charges with other operators, labour costs and depreciation.

The tax expense for the year amounted to Lm4.7 million or e10.9 million (2006: Lm3.9 million).

Earnings per share for 2007 amounted to 7c1 or e0.165 (2006: 8c0). Following an interim dividend of Lm0.01c5 (2006: Lm0.01c5) net of taxation per share, which was declared on 31 October 2007 and paid on 21 November 2007, the Board of Directors is recommending the payment of a final dividend of e0.11c65 equivalent to Lm0.05c0 (2006: Lm0.05c0) net of tax per share for the approval of the shareholders at the next annual general meeting to be held on 11 April which dividend will be payable on 16 April. This net dividend will be payable to shareholders who will be on the register of shareholders as at 14 March.