GlobalCapital plc - Interim Directors’ Statement

Friday, November 8th, 2013

On 8 November, GlobalCapital plc issued its Interim Directors’ Statement updating the market on the financial performance since their financial half-year ended on 30 June 2013.

The Directors noted that the current economic uncertainties and downward pressures on disposable income led to a decrease in the level of revenues when compared to the same period last year. In fact, the Directors explained that revenue growth remains the key challenge and efforts are being made to further enhance this through the diversification of its distribution channels. The drop in turnover was offset by an improved investment performance as well as restructuring measures which yielded some further cost savings. As a result, the Group reported an improvement in the overall operational performance.

Additionally, the Directors noted that the capital and cash flow position of the Group remain within acceptable parameters.

In conclusion, the Directors stated that they look forward with cautious optimism to sustaining the improvement of results for the full calendar year subject to any unforeseen circumstances.

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