GlobalCapital plc announced that it has submitted financial statements for 2018 to the Malta Stock Exchange which record pre-tax earnings of €1.2 million.

Last week, the Malta Financial Services Authority (MFSA) suspended the listing and trading of GlobalCapital shares after the company failed to publish its annual report for 2018 within the stipulated timeframe. The company had blamed a technical hitch.

In a statement today, the company said it registered a total return on investments of €1.8 million in spite of negative returns on the local and global markets, while recording an increase in assets of €10.4 million to €137.8 million.

The Group’s net asset value at end of the year stood at €18.5 million compared with €18.2 million in the previous year.

GlobalCapital Chairman Paolo Catalfamo said he was satisfied with the Group’s results, particularly since the investment market had endured a difficult year due to international economic and political uncertainty.

“The Group has continued to make progress, continuing the restructuring process embarked upon in 2017 in line with our vision for the future as well as enhancing the governance structure which will make us stronger going forward,” Prof. Catalfamo said.