Issue link: https://maltatoday.uberflip.com/i/1477178
5 INTERVIEW 25.08.2022 Melita Business helps OZO Group keep 3,000 employees connected Brown's reports €16.25m revenue for first six months of 2022 PAUL COCKS BROWN'S Pharma Holdings plc has reported revenue amounting to €16,251,284 for the first six months of 2022, an increase of €2,620,872, or 19%, over the comparative period in 2021. In its interim financial statements for the first half of the year, the Group said it has continued to expand its pharmacy base in Malta with two new acquisitions and continued to drive various cost sav- ing initiatives while ensuring that cost savings achieved in 2021 are sustained. Consolidated operating profit amount- ed to €2,492,821 (2021: €1,598,053) whilst profit before tax for the first six months of 2022 amounted to €1,986,968 (2021: €1,286,513). e Group continues to enjoy a healthy financial position. As on 30th June 2022, the Group's total assets €72,651,510 (31 December 2021: €67,261,605), an in- crease of €5,389,905 or 5% from 31 De- cember 2021. No interim dividends have been pro- posed. Trading in the third quarter of 2022 has been strong, driven by increasing in-store footfall as the post pandemic recovery continues to gather steam. Consequently, management outlook for full-year 2022 is very positive and consistent with the projections it pro- vided in its prospectus. Principal risks and uncertainties faced by the Group Current notable business challenges include the lack of supply of qualified pharmacists and the prospects of in- creased inflation affecting client spend- ing power. e pharmacy sector is heavily regu- lated, and the Group intends to remain sensitive to changes in regulations in this respect. e Audit Committee reg- ularly reviews the work carried out by the Group to manage these risks and to mitigate them where possible and the Audit Committee said it is satisfied that these risks are being managed effective- ly. Related party transactions During the period under review, the Group purchased stock from other re- lated entities amounting to €1,014,949 (202:1€872,869) and leased properties from other related party amounting to €410,000 (2021: €192,890). Condensed consolidated statement of profit or loss and other comprehensive income MELITA Business is now providing ser- vices to OZO Group, enabling seamless connectivity across a complex organi- sation which employs more than 3,000 people in the hospitality, retail, manu- facturing, property management and care sectors. In addition to mobile ser- vices which are essential for the com- pany, Melita Business is also providing cloud PBX and broadband. Malcolm Briffa, Director of Business Services at Melita Limited, said, "As a specialist in the outsourcing and servic- es industry, OZO Group has thousands of employees deployed in multiple lo- cations across Malta and Gozo. Con- nectivity is essential for the company in managing its operations and ensur- ing it delivers an optimum service to its clients. Moreso is mobile connectivity, which can be provisioned to offer mo- bile data only, or include calls and SMS, catering for the various demands of our business clients." "anks to our nationwide 5G net- work, Melita Business has proved to be the ideal communications partner for OZO Group. e team is being equipped with endless 5G data, calls and SMS to local and international num- bers. Such offering not only ensures ul- tra-fast connectivity, but also provides peace of mind against bill shocks from additional usage," added Robert Runza, Director of Business Development at Melita Limited. Fabio Muscat, Chief Executive Officer at OZO Group, said, "Since our incep- tion in 1996, OZO Group has continued to grow exponentially. As the scale and complexity of our operations grow it's vital that we have communications and connectivity services which we can rely on. e fact that Melita Business can provide both 5G mobile services and 1,000Mbps fixed internet nationwide in addition to customised office telepho- ny requirements is a clear plus for us. is coupled with dedicated customer support has made Melita Business the obvious choice for OZO Group." More information on the services pro- vided by Melita Business is available at https://www.melitabusiness.com/ From left: Malcolm Briffa, Director of Business Services - Melita Limited, Fabio Muscat, CEO - OZO Group, and Robert Runza, Director of Business Development - Melita Limited