Trident Estates plc announced its financial results for the year ended 31st January 2026, reporting improved profitability underpinned by 92 per cent occupancy at Trident Park during its second full year of operations.

Revenue increased by 10 per cent to €6.1 million, driven primarily by increased occupancy levels, while operating profit rose to €4.1 million. Profit after tax increased to €7.4 million, supported by both operational performance and fair value gains, the company said.

In line with these results, the Board is proposing an increased dividend of €750,000 at the forthcoming AGM, up from €500,000 in the prior year.

Chairman Mr Louis A. Farrugia said: “Contracted occupancy levels have now reached 92 per cent, a result which reflects both the quality of the development and the confidence placed in the project by our tenants and stakeholders.”

The Chairman said that the “significant increase in profitability was largely attributable to the uplift in the fair value of Trident House following the signing of a promise of sale agreement for a consideration of €29,250,000. The final deed of sale is expected to be concluded by May 2028.”

The agreement was signed with BBT plc and OS Developments Limited for the purchase of the property on Qormi Road, Marsa.

Upon completion, these funds will provide the group with additional flexibility to pursue future investment opportunities, he said.

“Following the successful completion and stabilisation of Trident Park at high occupancy levels, the Board continues to evaluate a number of potential long-term development opportunities associated with the wider Trident Park area, including land adjacent to Trident Park currently owned by Simonds Farsons Cisk plc,” he added.

In this regard, preliminary studies and conceptual master-planning exercises are ongoing between the respective companies and their advisers in order to assess a range of potential mixed-use development opportunities and complementary uses associated with Trident Park and the surrounding area, “while ensuring alignment with the long-term operational and strategic requirements of the Farsons Group across the wider site.”

He said that these studies remain at an exploratory stage and are intended solely to support the ongoing strategic evaluation being undertaken by the respective companies. “No decisions have been taken in relation to any potential transaction structure, development scheme, commercial framework or implementation timetable.”

The Chairman announced changes to certain top posts. He said that Mr Roderick Chalmers will be retiring from the Board after many years of dedicated service. During his tenure he also chaired the Audit Committee.

Dr Richard Camilleri has been nominated to join the Board. Dr Camilleri is a lawyer with more than 45 years of practice in both litigation and advisory roles.

“Dr Richard Camilleri, together with Mr Charles Borg, will be proposed for appointment at the forthcoming Annual General Meeting. Both nominations are uncontested.”

Mr Matthew Marshall has also been appointed Vice Chairman of the Board with effect from 8 May 2026. Mr Neil Psaila will assume the role of Chairman of the Audit Committee. “Mr Psaila is a Fellow of the Association of Chartered Certified Accountants and brings significant audit and assurance experience.”

Chief Executive Officer Charles Xuereb said about Trident Estates financial results: “I am pleased to present solid results for the financial year ended 31st January 2026 (FY2026), driven in particular by the successful conclusion of contracts for several new tenancies at Trident Park, together with a full year of occupancy by recently onboarded tenants across various other properties within the Group’s portfolio.”

Trident Estates said that it remains focused on maintaining high occupancy levels, enhancing tenant satisfaction and evaluating future development opportunities to support sustainable long-term growth.