The start of the financial reporting season
newsare.net
Earlier this week the financial reporting season commenced with the publication of the annual financial statements of HSBC Bank Malta plc while Malta International Airport plc released its results yesterday. The purpose of this article is not to provide a detThe start of the financial reporting season
Earlier this week the financial reporting season commenced with the publication of the annual financial statements of HSBC Bank Malta plc while Malta International Airport plc released its results yesterday. The purpose of this article is not to provide a detailed analysis of the financial statements of two of the largest companies listed on the Malta Stock Exchange but to explain the importance of the reporting season and highlight some of the more important aspects that investors should look out for in the upcoming releases from some of these companies. The Listing Rules issued by the Malta Financial Services Authority stipulate that annual financial statements must be published within four months from the end of the company’s financial year while interim financial statements are due within two months. Moreover, an Annual General Meeting must take place within six months from the end of their financial year. The majority of companies that have their shares listed on the main market of the MSE have a December year-end. The only companies which have different accounting reference dates are MaltaPost plc (September 30), PG plc (April 30) while Simonds Farsons Cisk plc and Trident... Read more