Issue link: https://maltatoday.uberflip.com/i/1498067
€1.50 THURSDAY 27 APRIL 2023 • ISSUE 203 WWW.BUSINESSTODAY.COM.MT PAGE 3 PAGE 2 Eden Leisure Group ends 2022 with lower profits than expected Sweeping reforms of EU fiscal rules proposed by Commission Microsoft's $69b takeover of Activision Blizzard blocked by UK MATTHEW VELLA EDEN Finance gave notice of a material variance which resulted after reporting a loss after tax for the year of €2,146 for 2022, when compared to a profit after tax of €6,000 forecasted in the Financial Analysis Summary of last June. e adverse variance of €8,146 resulted from an increase in the administrative costs incurred during the financial year. e financial results published by the Eden Leisure Group Limited, the guar- antor of Eden Finance's €40,000,000 4% unsecured bonds 2027, reported a net profit after tax of €1,171,964. is repre- sents an adverse variance of €2,283,036 when compared to the Financial Analysis Summary projected net profit after tax of €3,455,000. e main contributors were lower rev- enues than anticipated and increased costs. Furthermore, during 2022, the net book value of the Cinema 16 block amounting to €499,861 was written off. In addition, the comprehensive income for the year of €28,636,871 resulted in a favourable variance of €25,181,871 when compared to the Financial Analysis Sum- mary projected comprehensive income for the year of €3,455,000. e variance is attributable to the uplift on the land measuring 2,840sqm which is currently being redeveloped by Eden Liesure into a new multipurpose project. STAR PERFORMER MSE FTSE 100 EUR EXCHANGE RATES Trading Date: 26 Apr 2023 Number of Trades: 98 Turnover: € 1,129,243.91 MSE TRX Index: 7,627.35 Change: +0.511% Name: 4% CBC PLC UNSEC MT0000881236 - Currency € Last Traded: 26 Apr 2023 Price 97.000 Change +2.750 US Dollar 1.0388 British Pound: 0.86477 Japanese Yen: 144.59 Australian Dollar: 1.5451 Swiss Franc: 0.98700 7,587.67 75.67 7,592.39 / 7,512.00 Value Net variation High / Low +1.01% → direct My investments, My way. Whether you are a pro in investing or just starting out, MeDirect provides the tools you need to put your money to work – safely, simply and on your own terms. MeDirect Bank (Malta) plc, is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994. Applications are subject to the Bank's lending criteria. Terms and conditions apply and are available on request. medirect.com.mt 2557 4400 Entertainment group reports adverse profits variance of €2.2m from earlier forecasts