On 13 November, GlobalCapital plc issued its Interim Directors’ Statement explaining that the Group’s results have been positively affected by the signs of recovery in global finanical markets and the economic environment as well as a result of management’s recent initiatives. Nonetheless the uncertainity still present in the financial markets is continuing to negatively impact sales of investment products. On a more positive note, GlobalCapital has experienced increasing demand for its insurance products. Moreover the property, agency and brokerage segments are still performing positively.
In conclusion the Directors stated that the Group’s financial stability remains sound and the Directors continue to focus on its core operations, the strengthing of risk management practices and the implementation of effective cost management.