In accordance with Listing Rule 9.51 and 9.53, GlobalCapital plc announced that during the period commencing 1 January 2007 to 28 May 2007 GlobalCapital plc did not enter into material events and transactions and that the financial stability of the Group remained sound.
The Directors’ Statement claimed that the downturn in the local capital market had an impact on the Group’s portfolio of financial investments, however the Group’s property portfolio continued to register positive results. During the period under review the Group’s turnover increased over that registered during the previous comparative period. According to the Statment this was mainly achieved through an increase in premium income from the Group’s Life Insurance Division. The other divisions have carried on contributing to the overall performance of the Group without any significant variance when compared to the same period in 2006. The Group is confident that through its ongoing investment programme it will carry on developing and introducing new lines of business that will compliment its current portfolio of products and services in order to further enhance Shareholder value.