A financial website that allows users to analyse financial statements of local listed companies has been launched. The site is available at www.blackdigits.com.mt . Access to the site is intended to be free with the goal of creating a community-based website where users will eventually share financial data and their views with others.

The venture is run by two accountants who created the dynamic website as a simple and practical solution to compare the financial statements of different companies side by side.

“Analysing financial statements is time consuming, as these are normally published in pdf or paper format,” said Chris Grech, one of the co-founders of this project. “We provided a dynamic platform that allows users instant access to this information. The site converts the balance sheet figures to percentages of totals, and published figures into indexes so that trends, leverage and exposures are easily identifiable.”

“We believe that this initiative will significantly simplify the decision-making process for investors and market observers,” said Mr Grech.

Blackdigits is co-financed by the European Resource and Development Fund.