On 13 May 2011 GlobalCapital plc published its Interim Directors’ Statement covering the period from the start of their financial year on 1 January 2011 to date. The Group explained that although the Company’s operational activity during the first quarter of 2011 was positive and in line with expectations, volatility in the financial markets continued to negatively impact the Group’s results.
The Directors explained that under the new management structure, the Company is focusing on growing revenues through expanding its product offering and the diversification of its distribution network while at the same time continuing to build its infrastructure supporting these activities. The Group stated that the rationalising of expenses through the implementation of new work practises and better efficiencies is also on-going.
The Group explained that it anticipates that benefits from such measures will start to become more evident during the course of the current year and the Directors remain confident that these measures will also provide a solid foundation for the Company in the years to come.