Property development group ACMUS plc reported a profit of €1.3 million for the first half of 2026, as the company generated €7.1 million in revenue.

The figures were published in the group’s unaudited consolidated interim financial statements for the six months ended 30th June 2026.

ACMUS generated turnover of €7.09 million during the period, with direct costs amounting to €5.07 million. After operating and administrative expenses, the group recorded an operating profit of €1.88 million.

After finance costs and depreciation, profit before tax stood at €1.87 million, while profit for the period amounted to €1.32 million.

The group ended June with total assets of €41.87 million, while total equity stood at €9.5 million. Total liabilities amounted to €32.37 million, including €27.32 million in non-current borrowings and €1.29 million in current borrowings.

Cash and cash equivalents stood at just over €3 million at the end of the reporting period.

ACMUS’ principal activity is holding investments in subsidiary companies and raising financial resources from capital markets to finance property development projects. The wider group acquires, develops and disposes of property, as well as constructing and developing properties itself or through contractors.

As at the end of June, the group had eight property development projects, including two in Mġarr, one in Mosta, two in St Julian’s, two in St Paul’s Bay and one in Marsascala.

Among these, Cardinal Court in Mġarr and Shangrivill in Mosta were completed during the first half of the year. Olea Court in St Julian’s was fully completed in the second quarter.

Meanwhile, The Elm in St Julian’s, comprising 38 residential units and more than 90 car spaces, is expected to be completed in the first quarter of 2027 and placed on the market during March 2027.

The group is also developing The Core and The Village in St Paul’s Bay, both of which were acquired in September 2025, while its Marsascala project is planned to comprise 42 residential units, three commercial units, 82 garages and four car spaces.

ACMUS said its property development projects are progressing as planned, while identifying risks including rising material, resource and utility costs, the loss of senior management and other key personnel, delays to projects, and changes in consumer preferences and demand.

The directors did not recommend the payment of a dividend for the period.