Plaza Centres plc, that operates the retail and office complex in Sliema, recorded a 4 per cent increase in pre-tax profit, rising from €3 million to around  €3.25 million in 2024.

These figures were announced in the company’s financial statement for year ended 31st December 2024.

Plaza Centres plc, which also operates its subsidiary Esports Avenue Limited, reported a total revenue of €3.25 million in 2024, an increase of five per cent when compared to €3 million in 2023.

The group’s operating costs rose from €1.49 million in 2023 to €1.6 million in 2024, reflecting an increase of approximately 7.34 per cent. Marketing, maintenance, and administrative expenses also increased, reaching €1.05 million from €971,802 reported in the previous year.

In terms of depreciation, this rose to €550,828, an increase of 6.5 per cent.

The company also incurred €12,383 in investment and other related expenses, as well as €224,571 in finance costs.

As of 31st December 2024, current liabilities exceeded current assets by €360,280 for the group and €352,656 for the Plaza Centres plc.

At the end of the reporting period, the Shopping Centre recorded an occupancy rate of 88 per cent, while the overall occupancy rate of the Commercial Centre reached 95 per cent.

The board of directors recommended a payment of a final net dividend of €350,000, equivalent to €0.0137 per share.

First opened in 1993, The Plaza Shopping Centre features four floors dedicated to shopping, dining, training, and entertainment, together with an additional five floors of office space.

Plaza Centres also owns a 51 per cent stake in Esports Avenue Limited, a company owning and managing Esports Plaza, an Esports lounge located within the shopping centre. While the company’s results are not directly contributing to Plaza Centres’ bottom line, it is complementing the ground floor which also has a food hall and a gym.