Plaza Centres plc, the operator of Sliema shopping mall and office block The Plaza Shopping Centre, has announced its interim results for the first six months of 2023, during which it saw improved profitability even as it continues a major refurbishment programme.

Profits for the period increased by 15.85 per cent to €787,656 (2022: €679,012).

Occupancy remained unchanged from the previous year, standing high at 90 per cent.

During the second quarter of the year, 315 sqm has been leased out to Lucy World, with the shop opening for business in July. 

The Board of Directors stated it does not anticipate a significant change in the group’s performance in the next six months.

It therefore recommended the payment of a interim net dividend of €250,000, equivalent to €0.0098 per share.

The Plaza’s refurbishment

In a bid to enhance the experience for The Plaza’s tenants and visitors alike, the company is undertaking a refurbishment programme with sustainability considerations at its core.

Parts of the works for the second half of the year will focus on expanding the production of alternative energy, the installation of equipment which is more environmentally friendly, and the reduction in the energy required to keep a comfortable temperature inside the centre.

In order the reach this goals the company is looking at replacing the atrium roof, install further solar panels at roof level, and upgrade the electrical system of the escalators.