The profit before tax registered by Malita Investments plc for the half year soared from €668,000 in 2012 to €6,790,000.

As is known, the company’s principal activities include the development, management and operation of immovable property, in particular projects of national and/or strategic importance and the investment in local and foreign stocks and shares.

In the first six months of the year, the directors reported, the company did not enter into any new contracts.

The company’s results are in line with the projections presented in the prospectus dated 2 July, 2012 except for a fair value movement of €4,096,624 resulting from a review of the discount rate.

Since there has been a delay in the completion of the development of the Parliament building and open-air theatre, the board said, the government was required to pay the company a daily penalty.

Upon their completion, the Parliament building and the open-air theatre shall be leased to the government.

The directors of the company have also approved the payment of a gross interim dividend of €442,800 or €0.01476 per ordinary share equating to an interim net dividend of €287,700 or €0.00959 per share.

The interim dividend will be paid on Friday, 13 September to the shareholders on the company’s share register at close of business at the Malta Stock Exchange on Wednesday, 21 August.