Last Updated 22 | 10 | 2013 at 14:53


Church registers profit after years of losses

Article By: news

The Church in Malta registered a profit of nearly €1 million after incurring losses between 2008 and 2011 to the tune of €3.5 million.

The financial statements for 2012, presented today by the Church in Dar Sant’Anna in Senglea, report an operational surplus of €16,000. This was added to profits made from capital gains on investment amounting to €960,000. Collections during mass amounted to €4.5 million.

The annual statement lists the main cost items listing wages as the biggest expense, followed by the Ecclesiastic Tribunal which registered a deficit of €457,000 after an increase in costs and a reduction in the number of persons who could afford to pay. The Church also supported its own media with €512,000 while Children’s homes and homes for the elderly also registered a loss.

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