Busy Bee Finance plc has reported a strong financial performance for the year ended 30th November 2024, with pre-tax profits rising by 36 per cent year-on-year to reach €1.18 million, up from €609,944 in 2023.

The company, which serves as the financing and investment arm of the Busy Bee Group, attributed the improved results to strategic internal reorganisation and growth across its operating subsidiaries.

Improved margins and steady revenue growth

Gross profit margin improved to 41 per cent, a seven percentage point increase over the previous year. Revenue also climbed by 10 per cent to €7.44 million, with the Group citing strong performance from retail outlets and the contribution of a new outlet in Fgura which completed its first full year of operations.

Operating profit rose to €1.48 million, a 63 per cent increase from the €905,262 registered in 2023. Earnings per share similarly reflected this growth, increasing to €16.61 from €9.02 the previous year.

The Group’s total assets reached €19.55 million, a slight increase from €18.88 million in 2023, while total equity rose to €10.52 million. The Board has confirmed its view that the company and wider Group remain a going concern.

No dividend declared

Despite the improved results, the Board resolved not to distribute a dividend for the year, opting instead to transfer profits to reserves. The decision was ratified by shareholders during the Annual General Meeting held on 25th March 2025.

At the same meeting, the current Board of Directors – Geoffrey Friggieri, Robert Ancilleri, and Charles Scerri – were re-appointed, and the company’s auditors, Grant Thornton, were re-confirmed for another term.

Continued focus on sustainability and governance

In its Directors’ Report, Busy Bee Finance highlighted its continued focus on resource efficiency, strategic reorganisation, and risk management. The Group reiterated its commitment to health and safety, employee development, and corporate governance, noting a system of internal controls and active risk oversight via its audit committee.

The Group also emphasised diversity and inclusion as a key strategic pillar, aiming to foster a workplace environment that attracts top talent and promotes advancement based on merit.

Busy Bee Finance stated it would continue to monitor the performance of the wider Busy Bee Group to ensure sufficient liquidity for its operations, noting the company remains exposed to interest and operational risk from its intra-group financing structure.