Tigne Mall plc, which operates The Point, has announced an interim dividend of €0.01445 per share, or a total of €815,000 – a 6.3 per cent increase over the interim dividend issued last year.

The increased dividend comes despite lower net profits, which fell 6.4 per cent to €1.8 million from their record levels a year prior, as per the firm's interim financial statement. 

The reduction in profits came about largely as a result of higher depreciation costs following an increase in capital expenditure.

Meanwhile, revenues remained level at €4.1 million.

Earnings per share fell from €0.034 to €0.032, but the EBITDA margin remained unchanged at 88 per cent.

The Board of Directors stated that The Point “works continuously to maintain its status as a retail destination of choice […] by offering a visually appealing environment, a diverse mix of stores, entertainment, attractive food and beverage offers, events, effective marketing and community involvement.”

It also commented that consumer demand remained strong, as were incoming tourism numbers, which “resulted in encouraging turnover for the stores at The Point, despite the prevailing inflationary pressures.”

Late last year, there was a significant change in the ownership of Tigne Mall plc, after Hili Ventures bought out the stakes of BOV and HSBC, via its subsidiary Marsamxett Properties Ltd. In early 2024, Marsamxett Properties Ltd continued to acquire shares in Tigne Mall plc, with its position standing at 39.29 per cent as at 22nd April 2024.

Insurance firm MAPFRE MSV Life plc, which used to be the largest shareholder in Tigne Mall plc, is now the second largest, with its stake remaining stable at 35.46 per cent.