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A well-attended Annual General Meeting for The Global Financial Services Group P.L.C., held rcently at the Hilton International, confirmed the successful results obtained in 2003 and the first 6 months of 2004. During the AGM, The Global Group CEO, Mr Nicholas Portelli, gave a detailed presentation of what led to the successful results of 2003 and the strategy being adopted for 2004 and 2005.
Both during question time and during the reception held after the meeting, shareholders welcomed the strategy of reducing costs and diversifying revenue streams. This was confirmed by the approval of all resolutions put forward by the Board of Directors including the distribution of 0.65 of a cent per ordinary share, to all shareholders of the Company as at 25th June 2004.
“2003 was a very challenging but positive year for the Group”, said Chief Executive Officer Nicholas Portelli. “It has been the successful creation of a broader Group, offering well diversified revenue stream which contributed to a significant turnaround in results.”
The international Board of Directors, presided over by Chairman Mr. Christopher Pace, presented their report as well as the audited financial statements for the year ended 31 December 2003 where the Group declared a net profit, before tax and amortisation of goodwill, of Lm 512,000.
The Global Group comprises Globe Financial Management Ltd, Globe Fund Advisors Ltd and MY Insurance Brokers Ltd, British American Insurance Co. (Malta) Ltd. BUPA Agencies Ltd, Quadrant Ltd, GFSG (UK) and Globe Properties Limited.
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