GO publishes its financial statements

GO plc

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The Board of Directors approved the Financial Results for the year ended 31st December 2007. It was noted that the Group recorded a profit before taxation amounting to Lm11.9 million, slightly less than the previous year (2006: Lm12.0 million). This represents a return of 14.1% (2006: 14.4%) of the average shareholders’ funds, and 10.4% of the average total assets employed (2006: 10.8%).

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The Board also resolved to recommend that the AGM (to be held on Friday 11th April 2008), approves the payment of a final net dividend of €0.11c65 (Lm0.05c) net of taxation per share. This is equal to the dividend paid out in 2006. The total distributions relating to this year’s operations amount to €0.15c14 (Lm0.06c5), same as that distributed in 2006.

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The final dividend will be paid on 16th April 2008, to all shareholders on the register as at 14th March 2008.

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One may also note in the financial statements that net operating costs (excluding voluntary retirement costs and VAT claim refundable) amounted to Lm46.4 million when compared to the Lm40.7 million figure in the previous year. These operating costs were mainly attributable to interconnection charges with other operators, labour costs and depreciation. Moreover, the tax expense for the year amounted to Lm4.7 million, also higher than in 2006 which stood at Lm3.9 million.

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