Our major holding company, Business Concept International plc (BCI plc) that is in its second year as a group, has recently announced that its non-audited full-year revenues for 2017 are to exceed €1.2m.
In light of this success, Adrian Sciberras, the Chairman of the group of companies expressed that in the second year “we managed to achieve double digit growth, and we delivered a positive EBITDA for our shareholders”. He reiterated that “the first two months of 2018 already recorded new record turnovers for the company and we are upping guidance on revenues to €1.8m in fiscal 2019, to deliver 50% growth. EBITDA should continue to be positive and the company should be able to meet the short-term liquidity requirements for its capital projects.”
Meanwhile the equity base of the company should be strengthened with retained earnings from dividends received from subsidiaries and also continuous equity injection by existing shareholders. The goal is for equity to exceed €500,000 in 2018 while exceeding €1,000,000 in 2019 so that it can tap external capital markets in order to finance new and existing property projects.
The recorded growth in 2017 mostly occurred in the corporate services division and this will be a feeder to the accounting and audit department.
BCI plc, that holds a diversified group of companies rooted in multiple business sectors offering professional services such as corporate services, accounting and audits, and a property division that is presently in growth phase, registered growth in all the sectors that it operated in and embarked on a consolidation exercise to become efficient by re-distributing employees and closing down unprofitable non-core business operation.
Is there anything planned in the pipeline for BCI plc?
BCI plc is now seeking to enter into new ventures and has heavily invested in property projects that will be complementary to its clients’ needs. The company has entered into a number of Promise of Sale agreements for upscale developments such as The Shoreline Residences. It is also embarking to build its own premises as head office in a site earmarked on the Birkirkara bypass. Furthermore it is presently in the process of completing some property for letting purposes to create new revenue streams for the company.