Calamatta Cuschieri Moneybase has revised its end-of-year financial forecast significantly upwards after registering “excellent” results in the first half of 2024.

Revenue for the period between January and June rose 20.4 per cent to €8.71 million, a result of better-than-expected results across most lines of business.

EBITDA increased by 75.3 per cent to €3.01 million, while profit before tax shot up by 233.9 per cent to €2.18 million.

Ther marked increases in revenue, EBITDA and profit before tax over the figures posted for the first half of 2023 are all the more noteworthy when considering that 2023 was a record year for the financial services company.

As a result of the positive performance, the initial forecast for end-of-year revenue of €15.6 million has been revised to €17.7 million. EBITDA was revised from €4.3 million to €5.6 million. Profit before tax was revised from €2.6 million to €4.0 million.

During the first half of the year, Calamatta Cuschieri Moneybase implemented several strategic initiatives to streamline its operations and enhance customer experience.

A key milestone was the rebranding of the company from CC Finance Group plc to Calamatta Cuschieri Moneybase plc to reflect the group’s integrated service offerings, accessible through a unified digital platform that allows clients to manage their portfolios, payment accounts, and debit cards.

The company also expanded its outreach through new initiatives, including the launch of its podcast, ‘Fintalks’, which aims to educate and engage listeners on current financial trends.

Additionally, Calamatta Cuschieri Moneybase played a pivotal role in establishing the Private Equity & Venture Capital Association Malta (PEVCA Malta), underlining its commitment to promoting the private equity sector in the Maltese economy.

In the investment services sector, the company capitalised on strong international market performance and identified lucrative opportunities in the fixed-income market.

Calamatta Cuschieri Moneybase also strengthened its service offerings by partnering with IVALIFE as an Insurance Intermediary, enhancing its pension and protection services.

Moreover, the company has successfully obtained authorisation to open a branch in Milan, Italy, further expanding its reach to high-net-worth clients.