Tag: Malta

MaltaPost delivers healthy profit at mid year

Posted by | May 22, 2008 | |

For the six months ended 31 March 2008, MaltaPost p.l.c. registered a Profit before Taxation of euro 2.60 million as compared to euro 1.01 million for the same period last year. This represents an increase of 157% (euro 1.59 million) over the six months ended 31 March 2007. Earnings per Share increased to euro 0.060 from euro 0.023 in 2007.

• Turnover increased by 13.41% from euro 9.66 million to euro 10.96 million

• Cost-to-Income ratio improved to 76.64% from 89.65% for the same period last year;

• The Provision for Liabilities and Other Charges registered a positive movement of euro 401k over last year. This provision relates to amounts concerning ex-Government employees who had opted to become full-time employees of MaltaPost p.l.c. and who were entitled to rights which went beyond the National Insurance Scheme.

The decrease in provision arose on the reversion of some such employees to Government in the period under review.

Apart from an overall increase in business the performance during this period was enhanced by two events viz. increased volumes during the General Elections and philatelic/numismatic issues commemorating the introduction of the Euro.

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Privatisation of Maltapost

Posted by | Mar 25, 2008 | |

The Malta Star has reported that Maltapost is to be completely privatised.

The Government has announced that it will be selling its 40 per cent share holding in the company.

The major shareholder after the privatisation of the postal services is complete will be the Lombard Bank.

Maltapost Chairman Dr Joseph Said, commented that Maltapost offers one of the most efficient services around Europe and was classified as the 16th most efficient postal service out of 40 countries surveyed.

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Malta: CEPT reforms discussed

Posted by | Jan 31, 2008 | |

Competitiveness and Communications Minister Censu Galea yesterday inaugurated a crucial Task Force meeting of the CEPT (European Conference of Postal and Telecommunications Administrations) which is currently discussing reforms within this organisation.

The CEPT is a body of policy-makers and regulators comprising 48 members from almost the entire geographical area of Europe. The scope of this meeting is to provide a platform for CEPT members, observers and other interested parties to discuss initiatives aimed at developing a strategic plan for the development of this organisation. Two other Task Force meetings were held in Berlin and Copenhagen.

The task force will then present its findings on how CEPT can remain relevant and successful by maintaining its strengths, by meeting the external challenges and by overcoming the weaknesses identified.

Among the strengths to be maintained are the quality of CEPT’s technical work, including the preparation of European common positions for the International Telecommunications Union (ITU) and the Universal Postal Union (UPU), and its work on the mandate of the European Union. This strength is based on the excellent technical expertise of the members and on CEPT’s methods of organising international cooperation of its broad membership from the whole European Region.

The meeting was chaired by Anthony Debono, who is the current president of the CEPT. Mr Debono will then present the final conclusions of this task force at the next CEPT general assembly scheduled for 5 and 6 June in Malta.

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