Issue link: https://maltatoday.uberflip.com/i/720024
46 Events maltatoday, SUNDAY, 28 AUGUST 2016 Malta Properties Company reports 40% increase in pre-tax profits MALTA Properties Company p.l.c. (MPC) has announced pre tax profits of €928,358 for the six months to 30 June 2016, a 40 per cent increase on the same period last year. The interim financial results, published to- day, also show a significant in- crease in the Group's cash and cash equivalents from €118,281 to €1,490,209, as well as a mar- ginal increase in revenues from the leasing of its properties from €1,608,500 in the first six months of 2015 to €1,662,925 over the same period this year. In its review of the financial performance which accompa- nied the interim results, MPC stated that, "in the short to me- dium term, these revenue levels are expected to remain stable and increase gradually in line with inf lation, as MPC has a number of long term lease agree- ments with its tenants in place. These long term leases on vari- ous properties will also shield the Company from any potential unforeseen economic uncertain- ties." MPC's operating profit for the six month period stood at €1,370,713 (2015: €1,587,645) due to a substantial increase in administrative expenses as a re- sult of the independent operation of the Group following its spin- off from GO p.l.c. and its listing on the Malta Stock Exchange to- wards the end of 2015. Profit for the period also decreased from €1,702,723 to €551,115, mainly because of a tax credit follow- ing changes in taxation rules on capital gains on the transfer of immovable property in 2015. Fi- nance costs, however, decreased considerably to €442,355 (2015: €928,571). This was due to a re- duction in borrowings from €49 million to €16 million towards the end of 2015. In its statement the Company announced that a decision on dividend distribu- tion for 2016 would be taken on the basis of full year results and therefore, no dividend has been declared with these results. MPC CEO, Nikhil Patil, said: "These interim results once again highlight the sound fi- nancial position of MPC, un- derpinned by a number of long term lease agreements on several properties. This stability means that MPC is able to progress further with the redevelopment of three important sites in its portfolio, namely the Zejtun Ex- change, the Marsa Spencer Hill Exchange, and the Birkirkara Exchange. The transformation of these three sites into leading technical, commercial and retail centres should have a significant positive impact on MPC's rental income from 2019 onwards." MPC Chairman, Deepak Pad- manabhan, said: "This first set of six monthly results issued since MPC listed on the Malta Stock Exchange highlight the sustain- able progress which the Compa- ny is making as it works towards delivering on its strategy to be- come Malta's leading provider of commercial real estate. MPC re- mains very well placed to look to the future with optimism." Balancing body, mind and spirit for life-long wellness Psychologist PATRICK PSAILA coaches GSD Marketing Ltd employees on the important of keeping body, mind and spirit in balance for consistent physical and emotional wellbeing. A vast body of research data sug- gests that every year millions of euros are spent on lost productivity, absenteeism, and the cost of treat- ing illness and conditions that are preventable through better lifestyle management. This situation has a significant negative impact not only on the organisation concerned, but on society at large which includes families, communities, healthcare organisations and the general well- being of the population. Dr Ron Goetzel, a leading expert in the field of health and productiv- ity management, says that "compa- nies are a microcosm of society and an important unleveraged setting for health improvement and risk re- duction". This perspective on health extends the benefits of effective corporate wellness programmes beyond the parameters of the busi- ness. Research also suggests that the best and most effective corporate wellness programmes are those that integrate the physical work environ- ment, company policies and leader- ship and management practices un- der a single mission of wellness. Against this context, GSD Mar- keting Ltd, distributors of The Coca-Cola Company products produced in Malta by The General Soft Drinks Co Ltd and other drink brands, organises awareness and educational sessions open to all em- ployees. The sessions focus on the importance of investing in personal wellbeing. During the first session, conduct- ed by Dr Patrick Psaila, a holistic model of wellness was presented that addresses the four fundamen- tal domains of human wellbeing. These are the physical, cognitive/ Intellectual, emotional and spiritual domains. The physical domain is the physi- cal aspect of wellbeing, including the environment, ergonomics, nu- trition, lifestyle habits, exercise and rest. These have direct effect on how a person thinks, feels and, con- sequently, behaves and performs. The emotional domain is the emo- tive aspect of wellbeing. It addresses the importance of self-awareness and emotional intelligence, good relational support systems, psy- chologically safe and non-toxic en- vironments, and a lifestyle balance that allows for leisure and enjoy- ment. The cognitive domain is the area that deals with the way a person processes information and thinks about the personal and social world. It is also the area of intellectual de- velopment. It also emphasises the importance of life-long learning as an integral aspect of wellbeing. In this context of the spiritual domain, spirituality is taken in its widest sense - a value and belief sys- tem that helps us find meaning and purpose in life and embrace a clear personal mission. It addresses the importance of having a workplace that respects the value of every indi- vidual, making work as meaningful as possible. The four domains of wellbeing, while separate, need to be regarded as interlinked and highly interde- pendent in the impact they have on each other and consequently on individual personal, social and or- ganisational wellbeing. The sessions were delivered by psychologist Patrick Psaila, director of PsyPotential Malta, a service that specialises in training, coaching and psychological services in the area of human factors in organisa- tions. Grant Thornton appoints new marketing manager GRANT Thornton is pleased to welcome Nick Bilocca as the new manager for their marketing op- erations. Nick will be responsible for formulating and executing mar- keting strategies and tactics that drive growth. In addition, he will help overall brand development and messaging in the market- place. Grant Thornton's Malta offices are looking to expand its marketing efforts and provide a stronger presence, both in Malta and internationally. Nick joins the audit and adviso- ry industry leader with an exten- sive knowledge and experience in marketing, advertising and com- munications. A graduate of the University of Malta's Bachelor of Commerce programme, Nick later continued his education at graduate level, receiving an hon- ours degree in Management. He holds over fifteen years of hands- on marketing experience, having spent most of his career leading the communications efforts and managing the public relations and marketing campaigns for an array of clients in the real estate, catering, and service industries. "I'm excited for Nick to join the Grant Thornton team," said Mark Bugeja, Managing Partner. "His integrated marketing expe- rience and skill set around mod- ern, scalable marketing methods will allow us to capitalize on the strength of the Grant Thornton brand as we continue to inno- vate and grow, whilst positioning ourselves as a leading dynamic organisation in the local audit, corporate and advisory sector." Founded in 1975, the Malta firm became a Grant Thornton member in 1991. As a €4bn glob- al organisation of member firms with 42,000 people in over 130 countries and growing, the brand is respected internationally as one of the major global account- ing organisations recognised by capital markets, regulators and international standard setting bodies. The Malta firm focuses on pro- viding a full range of services including assurance, tax, advi- sory, specialist financial services, corporate, secretarial and ad- ministrative services to clients ranging from public companies, multi-nationals and government agencies to entrepreneurial busi- nesses across a broad spectrum of industries. Nick Bilocca