Cablenet reports 7.5% revenue growth in first six months of 2026 despite higher finance costs

Cablenet Communication Systems plc reported a 7.5% increase in revenue to €37.1 million for the six months ended 30 June 2026, driven by continued growth in its business-to-business segment, postpaid mobile services, and mobile device financing.

The Cyprus-based telecommunications provider, majority-owned by GO plc, generated an operating profit of €338,872, up from €198,466 in the corresponding period last year, while EBITDA rose 4.6% to €10 million. However, the company’s net loss widened to €2.13 million from €1.95 million, primarily reflecting higher finance costs.

Cost of sales increased 14.7% to €25 million, largely due to stronger mobile device sales and ongoing investment in expanding its mobile network, including 5G infrastructure. As a result, gross profit declined 5% to €12.1 million, with the gross margin narrowing to 32.6% from 36.8% a year earlier.

Cablenet noted continued growth in mobile subscribers despite a competitive market, while sports subscription revenue remained under pressure due to piracy. During the period, the company also made €1.8 million in spectrum-related payments and secured exclusive broadcasting rights for three Cypriot football clubs until May 2032.

At 30 June 2026, total assets stood at €128.7 million, while shareholders’ equity remained negative at €5.1 million. The company also confirmed it will pay €1.6 million in interest on its €40 million 4% unsecured bonds maturing in 2030 on 12 August 2026.

Looking ahead, management expects full-year revenue to grow by around 8% compared with 2025, supported by continued customer growth, network expansion, increased mobile subscribers, and higher contributions from business services, television, sports rights, and advertising. The board reaffirmed its confidence that the company has adequate resources to continue operating as a going concern

Klikk returns to profitability as 2026 revenue surges 68.3% to €7.76 million

Klikk Finance plc reported revenue of €7.76 million for H1 2026, representing a 68.3% increase compared to the corresponding period last year, reflecting continued commercial momentum following the group’s strategic integration into the GO Group.

The company returned to profitability during the period, reporting an operating profit of €214,723, compared with an operating loss of €147,068 in the first half of 2025. Management attributed the turnaround to stronger operating performance and higher sales volumes, expressing confidence that this momentum can be sustained over the medium to long term.

Gross margin improved to 12.3%, up from 11.2% a year earlier, despite ongoing inflationary pressures and higher cost of sales. Klikk said the improvement was supported by increased purchasing volumes as it continues to scale its operations to support future growth.

Operating expenses increased during the period, primarily due to higher payroll costs and continued investment in organisational capabilities.

Klikk Group, comprising Klikk Finance plc and Klikk Limited, operates two IT retail outlets in Birkirkara and Żejtun, serving both retail and corporate customers with a broad range of technology products and related services.

Malta Properties more than doubles first half of 2026 profit to €1.03 million

Malta Properties Company plc reported a profit after tax of €1.03 million for H1 2026, more than doubling the €500,944 recorded during the corresponding period last year, supported by higher rental income from newly secured lease agreements.

Rental income increased 29% to €2.9 million, reflecting the successful refurbishment and re-leasing of several properties that became vacant at the end of 2024.

During the period, the group invested €0.9 million in its property portfolio, increasing its value to €94.8 million. The additions primarily relate to renovation works at Marsa Central Building and The Exchange at Spencer Hill in Marsa.

As at 30 June 2026, cash and cash equivalents, including deposits, stood at €1.77 million, down from €4.6 million at year-end, mainly due to internally funded capital expenditure on property renovations.

Management said its focus during the first half of the year remained on completing refurbishment projects, onboarding new tenants into the upgraded premises, and securing lease agreements for the remaining vacant spaces. The company also advanced preparations for the construction of an additional floor at Marsa Central Building while continuing to evaluate acquisition opportunities to further expand its property portfolio.

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