LifeStar Holding plc - Full-Year Results

On 25 April, GlobalCapital plc published its annual report for the financial year ended 31 December 2012. The financial statements revealed a net loss of €2.4 million compared to the net loss of €4.2 million registered in the previous year. The reduction in the loss was the result of higher income particularly from its insurance business as well as further operational cost savings. Furthermore, the Group’s financials were also positively impacted by fair value gains on its investment portfolio. On the other hand, the Group incurred further impairments on its property holdings amounting to €0.35 million as well as goodwill, depreciation and amortisation charges of €0.6 million.

Looking ahead the Directors explained that operational cost savings will continue to be a focus area for 2013 whilst working towards attaining substantial growth in revenue mainly from the insurance segment.

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GlobalCapital plc – 2012 Annual Report and Financial Statements