The Nationalist Party has returned a profit and has financial stability deputy leader Robert Arrigo said on Sunday.

Writing in a Facebook post, Arrigo said that over the past 30 months the PN had been forced to cancel two fund-raising marathons,  one due to the internal situation and the other because of Covid-19.  Those marathons could have yielded it €500,000.

Nonetheless, he added, "we now have public audited accounts for the PN, that show a profit."

Furthermore, the PN is property rich to the tune of €36 million.

"We have restructured both financially and also our workforce. The staff made its sacrifices. We now have a plan. With an eye to the future administrations. What was found was not good enough. We are proud to have a financial stability that permits us to look forward and invest," he added.

Arrigo said the PN media was found to be losing up to €1 million each year, something which was unacceptable. By 2021 this would be zeroed, without selling off assets, and there would be no more burdens.

"People's money has been well invested. The successful cedoli system continued and has reached 500 contracts. It continues at a 4% investment rate, payable yearly" he added with reference to the party loan scheme.

In a reference to divisions, he said that when there was peace, hard work was put in "and we will deliver a sound PN party."

"That is solid financial planning with excellent credentials. Any other permutations by so-called friends are just fantasy with a disruptive agenda.

"We made it and notwithstanding we are proud!," he said,

Arrigo made the announcement ahead of the launching of Net Live, a new service by Net Television, on Sunday afternoon. He did not give details about the PN's profit.