Plaza Centers plc – Approval of Half-Yearly Report

The Group registered a profit before tax of €798,860, compared to the €818,702 registered in 2016, a 2.4% decline. Revenue for the period under review amounted €1,478,723, a rise of 16.7% over the same period in 2016. The decrease in profit before tax was mainly due to the increase in finance costs attributed to the loan and bond interest to finance the investment in Tigne Place. EPS increased to €0.021 from €0.018 in 2016.

The refurbishment of Tigne Place is moving according to schedule and the major work should be completed before the end of 2017. The refurbishment and the renegotiation of new lease agreements has led to lower occupancy levels at Tigne Place and this had an impact on the group financial results. The Parent Company is also considering to carry out a refurbishment at the Shopping Centre.

The Board of Directors does not recommend the payment of an interim dividend.

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