Issue link: https://maltatoday.uberflip.com/i/281887
43 maltatoday, SUNDAY, 23 MARCH 2014 Events GO plc records another year of strong levels of profitability Win a Year's Free Interactive TV from GO Addressing stockbrokers following the announcement of the results, GO plc Chairman Deepak Pad- manabhan said, "2013 was another positive year for GO, despite the competitive and regulatory pres- sures which continued to erode rev- enues. In fact usage across most of our services - phone, mobile, web and TV - continued to grow and the Company also increased its custom- er base by 1 per cent to more than 500,000 customer connections. "The ever increasing number of customers adopting bundles of services is a vote of confidence in the Group's product portfolio and drives GO to continue to pursue a strategy aimed at delivering tangible value to its customers. This strategy helps to deliver robust levels of rev- enues, profitability and cash gen- eration from core operations. As a result of these encouraging results and healthy balance sheet, the Board of Directors is recommending that during the forthcoming Annual General Meeting, shareholders ap- prove the payment of net dividend of €0.07 per share. " This positive result was achieved despite a slight drop of 4.0% in Group revenue to €122.1 million. This was caused by a combination of price erosion due to the competi- tive nature of the market and lower revenues from wholesale, including roaming, as regulators continue to mandate significant reductions in inter-operator tariffs particularly for terminating calls on mobile net- works. GO's resilient performance was underpinned by a 3.5% reduction in cost of sales, administrative and related costs, which in 2013 stood at €102.4 million (2012: €106.1 mil- lion). In 2013 GO is reporting an op- erating profit of €18.0 million, as against €22.4 million in the com- parative year. Normalised operating profit is €20.8 million (2012: €22.2 million) whilst normalised EBITDA amounted to €48.4 million (2012: €51.3 million). GO's profit before tax of €15.6 million is at levels simi- lar to the prior year when one takes into account a one-off gain of €11.4 million which had been registered in 2012 following the disposal of a plot of land at Qawra. In 2012, the Company had recorded profits be- fore tax of €26.8 million. The earn- ings per share amounted to €0.116 as against €0.173 in 2012. Net cash generated from opera- tions amounted to €39.6 million (2012: €40.0 million). Both years include items considered to be of unusual nature, size or incidence relating to pensions and volun- tary retirement costs. Normalised cash flow from operations for 2013 amounted to €42.7, an increase of €1.2 million over the €41.5 mil- lion generated in 2012. In 2013 the Group's investments implied a cash outflow of €19.3 million as the Group maintained an intensive investment programme through which it is up- grading its various networks and launching new technologies which allow for the provision of improved services and innovative products. Yiannos Michaelides, CEO at GO, said, "Thanks to a great effort by all our employees GO has once again delivered a strong set of results, despite the challenges facing our industry. Our focus on investing in people and technology to be able to deliver market leading products and excellent customer service is deliv- ering the right results. The usage of all our services and the levels of cus- tomer satisfaction have continued on an upward trend. This coupled with our ongoing efforts to manage costs, augurs well for the future." GO has launched a new competi- tion to reward customers on its Facebook page www.facebook. com/go.com.mt. The prize on of- fer is one year's free subscription to GO's Interactive TV service and a 40-inch Samsung TV supported by Sound Machine Digital. The new competition focuses on sharing a selection of GO Interac- tive TV shows broadcast on GO Stars, Fox, Fox Life and GO Sports HD. To take part in this competi- tion, Facebook users need to; Like the GO Facebook page www.face- book.com/go.com.mt, click on the 'Share and Win' competition, enter their details and choose any GO Interactive TV show and share. Every day until 2 April one person will be selected and will be asked a question. If they answer correctly, their name will be entered into the draw for the Grand Prize, which will take place on 7 April. There is no limit to the number of times a person can participate. This competition is running in conjunction with a Limitless Home Pack offer through which new subscribers will benefit from free interactive TV for 6 months. GO Interactive TV offers 100 channels, catch up, re-start, pause, rewind and record. Limitless Home Pack Interactive also provides limitless internet downloads and limitless calls to GO phone lines. Claire Galea, Manager, Digital Marketing & Portals at GO, said, "Through our Facebook page, GO does its best to engage all our cus- tomers, through informative and entertaining posts and competi- tions that are fun and reward our customers with great prizes. This time round it's a 40 inch Samsung TV and one year's free GO Interac- tive service. We'll have more com- petitions with great prizes in the weeks and months ahead." Call freephone 80072121 or visit www.go.com.mt for more details. Tom Oliver Nutrition offers the next generation of nutritional supple- ments with outstanding benefits. All products are formulated using the latest scientific developments and premium bio-active ingredients. Tom Oliver Nutrition works with experts in the field to bring unique and effective products to the mar- ket. Renowned Scientist Prof. Dr. Alvin Berger (M.S., Ph.D & Chief Scientific Officer) has developed its unique profile. Prof. Berger is an Adjunct Profes- sor of Nutrition, University of Min- nesota, Department of Food Science & Nutrition; Adjunct Associate Professor at the University of North Carolina Chapel Hill Department of Nutritional Sciences. He is also a board member of various academic, industrial, and commercial organi- zations. Tom Oliver Nutrition's background in fitness brings a 360-degree un- derstanding of health and wellness in the development of supplements. Tom Oliver is a renowned fitness and wellness expert offering established personal training to five royal fami- lies and select high net-worth clients based in London, New York, Jeddah and Riyadh. 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Over €130,000 were raised dur- ing the Maratona bir-Roti held last weekend at the St George Preca Col- lege Boys Secondary in Hamrun, thanks to sponsors such as Gasan- Mamo Insurance who gave a helping hand with the basic first aid train- ing set up in the CPR training room during the Maratona bir-Roti. The main aim of the marathon was to address safety and first aid in all public and church schools. The funds will be used to equip schools with Automated External Defibril- lators, a life-saving device that will help in scenarios of heart failures. Children will also be introduced to basic first aid and teachers and staff will also be informed on how to use the AEDs. The Maratona bir-Roti organisers thanked GasanMamo for their support, commitment and be- lief in the cause. Tom Oliver Nutrition LivingWell's Daniela Casha hands over a cheque for €697.00 to Laura Lejman of Arnaud Guesry Foundation, following the charity day held at the health club to raise money for the charity's orphanage in Madagascar GasanMamo's generosity helps raise over €130,000