Plaza Centres reports €750,000 profit before tax in the first 6 months of 2026

Plaza Centres plc reported a profit before tax of €750,467 for the first six months of 2026, representing a decline from the €930,721 recorded during the same period last year.

The company generated €1.5 million in revenue during the first half of the year, while EBITDA stood at €965,662. Total assets increased to €37.9 million.

The first half of 2026 was marked not only by the company’s operational performance but also by developments concerning its shareholder structure and corporate governance.

Virgata HQ Limited, a subsidiary of Luxembourg-based private investment firm Virgata Group S.à r.l., increased its holding in Plaza Centres to 37.615% last year, becoming the company’s largest shareholder. Since then, Virgata has pushed for changes to the company’s governance and capital structure.

At an Extraordinary General Meeting held in May, shareholders approved a number of resolutions proposed by Virgata Group, paving the way for changes to the governance and capital structure of The Plaza in Sliema.

Looking ahead, Plaza Centres said the property continues to benefit from its strategic location and remains focused on strengthening its tenant mix.

The company said it is actively engaging with potential tenants from various retail and commercial sectors, with the aim of maintaining a diversified and high-quality tenant mix that responds to changing consumer preferences and market trends.

Plaza Centres also announced that it has entered into a promise of sale agreement for the acquisition of a childcare property in Sliema. According to the Board, the acquisition forms part of its strategy to further diversify and strengthen its property portfolio.

Meanwhile, the company’s €4.9 million 3.9% unsecured bonds, which mature in 2026, are due to be redeemed on 22 September. Plaza Centres said it plans to refinance the bonds before the redemption date and continues to closely monitor its liquidity position.

The company is also moving ahead with a share buy-back programme, following shareholder approval in May. The programme allows for the repurchase of up to 2.4 million shares at prices ranging from €0.75 to €0.95 per share.

In addition, the Board has approved an interim net dividend of €250,000, equivalent to €0.0098 per share. Shareholders must be registered on the company’s register of members by 19 August 2026 to qualify for the dividend, which is scheduled to be paid on 2 September 2026.

GO Group reports strong growth in the first half of 2026

GO Group delivered strong revenue growth during the first six months of 2026, with consolidated revenue increasing by 8.7% to €134.7 million for the six-month period ended 30 June.

The growth was recorded across all of the Group’s main business units. Malta Telecoms revenue rose by 8.8% to €80.2 million, supported by continued growth in fixed and mobile subscribers and a stronger contribution from Klikk.

In Cyprus, Cablenet recorded a 7.5% increase in revenue to €37.1 million, driven by growth in both fixed and mobile subscribers. Meanwhile, BMIT increased revenue by 10.6% to €17.5 million, reflecting continued growth in its digital infrastructure and managed IT services operations.

Reported operating profit stood at €19.2 million, while profit before tax amounted to €14.8 million, both below the levels recorded in the corresponding period last year. GO Group said the decline was primarily due to approximately €2.4 million in one-off income and cost savings recognised during the first half of 2025, which did not recur this year.

Excluding these one-off items, underlying operating profit increased by 3.2% to €21.6 million, while underlying profit before tax rose by 4.8% to €17.2 million.

The Board has declared an interim net dividend of €0.07 per share, representing a total distribution of approximately €7.1 million. The dividend will be paid on 6 October 2026. The 7-cent interim dividend is unchanged from that paid in September 2025, while the Group also paid a final net dividend of €0.09 per share for financial year 2025 on 2 June 2026.

Commenting on the results, GO Group CEO Nikhil Patil said that all parts of the business delivered revenue growth during the period, highlighting the increasing collaboration between the Group’s various subsidiaries.

He pointed to Klikk as a clear example of the benefits of greater integration across the Group. The consumer electronics retailer recorded particularly strong growth during the period, with revenue increasing by 68.3% to €7.8 million. Klikk also moved from an operating loss in the first half of 2025 to an operating profit during the first six months of 2026.

GO Group said its integrated approach is becoming increasingly evident across its operations. In Malta, growth in fixed and mobile subscribers has been complemented by Klikk’s expanding range of devices and accessories, while BMIT’s cloud and managed services continue to support customers across the Group’s Malta and Cyprus telecoms operations.

The Group’s offering has also been broadened through its cybersecurity, Internet of Things (IoT) and renewable energy businesses.

Capital expenditure during the period amounted to €16.8 million, down from €22.9 million in the first six months of 2025. The reduction reflects the substantial completion of GO Group’s fibre-to-the-home (FTTH) network rollout in Malta.

With the most capital-intensive phase of the network expansion now largely completed, the Group said investment is increasingly being directed towards services and platforms built around its network, including cloud, cybersecurity and retail.

GO Group said it enters the second half of 2026 with a focus on expanding higher-value services across cloud, cybersecurity, retail and renewable energy, supported by broad-based revenue growth, improved underlying profitability and the continued development of Klikk.

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