MIDI plc – Half Yearly Report

MIDI plc issued the following Company Announcement pursuant to the Malta Financial Services Authority Listing Rules.

The Company announces that its Board of Directors have approved the half-yearly financial report covering the six months ended 30 June 2015.

The Company registered a loss before tax of €0.64m which is expected to be reversed once a sale of apartments is processed. Meanwhile, profits after tax amounted to €3.22m, due to a net defered tax credit of €3.86m. 

Revenue for the period under review amounted to €6.63m – a more than an eight fold increase in turnover. The development and sale of property is the key contributor to the significant increase in revenue.

To view the official Company Announcement, click here.