“Mizzi Organisation announces a pre-tax profit of €8.6 million…”

Mizzi Organisation’s 2024 Annual Report shows a rise in pre-tax profit to €8.6 million (from €8.2 million in 2023), reflecting its diverse operations across retail, automotive, and beverages. Gross profit slightly increased to €63.8 million, but operating profit declined to €11.5 million before property valuation gains and impairment.

The group benefited from a €1.4 million gain in property fair value. Net finance costs rose to €6.4 million, while investment income and share of associates’ profits decreased. The total tax charge fell to €1.1 million, resulting in a net profit of €7.5 million (up from €5.8 million).

Other comprehensive income significantly improved to €7.1 million due to a former associate’s property revaluation. A €40,000 dividend is proposed.

For 2025, the group anticipates stable automotive sales, sustained Arkadia food store revenue, and a review of the Valletta Market. They are optimistic about increased Gozo visitor traffic. The board expressed confidence in the group’s performance.

Juel Group profits surge 33.7% on successful hospitality and property ventures.

Juel Group plc, a property development and hospitality firm, announced a significant 33.7 per cent jump in pre-tax profit, reaching €5.99 million in 2024 from €4.48 million in 2023. The company’s Annual Report for the year ending December 31, 2024, highlights that this growth was fueled by its property development and, notably, the commencement of its hotel operations in November 2024 following the Hyatt Centric development in St Julians.

Formed in early 2022, Juel Group saw its turnover soar to €6.6 million in 2024 (from €749,557 in 2023), with €6.13 million generated by its new hotel segment and contributions from property rentals (€671,534) and development (€5.32 million). While direct and administrative costs increased substantially, the group’s operating profit slightly improved to €1.33 million.

Hudson Malta records a significant 54% rise in pre-tax profits, overcoming the challenge of narrowing margins.

Hudson Malta plc, the entity responsible for managing the retail operations in Malta for its parent company, Hudson Holdings Ltd, and for the distribution of branded consumer goods in Malta and Italy, reported a significant 54% increase in its profit before tax for the year 2024. This positive result, which saw pre-tax profits climb to €733,829 from €475,917 in 2023, was attributed by the company to an expansion of its retail presence within Malta and an improvement in net interest income. The group also saw its turnover grow by 7.3% to €64.1 million. Despite this revenue growth, a decrease in the gross profit margin to 33.8% (from 35.1% in 2023) limited the increase in overall gross profit to 3.5% (€21.7 million). While operating and administrative costs rose, the operating profit remained stable. The reported profit before tax also reflects the increased cost of financing due to higher interest rates.

Hudson Holdings Ltd, the parent company, is a major player in the sports and fashion retail and distribution sector, representing numerous international brands across multiple territories, although these results specifically cover Hudson Malta’s activities in Malta and Italy.

Izola Bank posts €3 million loss for 2024 due to market headwinds.

While facing headwinds from record-high interest rates, increased funding costs, and rising regulatory expenses, which resulted in a €3 million after-tax loss for 2024 (compared to a €1.2 million loss in 2023), Izola Bank also made notable strategic advancements.  Notwithstanding the challenges, loans and advances to customers saw an increase to €194 million.

These included significant progress in its digital transformation, a successful relocation of its head office, and the implementation of a capital action plan aimed at long-term sustainability. Despite a decrease in net interest income, even with an 18% growth in interest income, the bank saw positive momentum in customer deposits, total assets, and lending. Furthermore, its equity position improved, leading to a stronger Tier 1 capital ratio. The total comprehensive loss was limited by gains from property and financial instruments.

Malta Company Announcements:

MedservRegis plc

MedservRegis’s Directors propose a final net dividend of €0.0142 per share for shareholders on record as of May 9, 2025. This is subject to shareholder approval at the AGM on May 29, 2025, with the expected payment date being June 30, 2025.

AX Real Estate plc

The Directors announced a gross final dividend of €0.008424 per share, payable on May 14, 2025, to shareholders who were on record at the close of trading on April 25, 2025.

Plaza Centres plc

Subject to shareholder approval at the AGM on June 18, 2025, the Directors propose a final net dividend of €0.0137 per share for shareholders on record as of May 15, 2025.

This final dividend, combined with the €0.0098 net interim dividend paid in August 2024, results in a total net dividend of €0.0235 per share for the year.

BMIT Technologies plc

Shareholders on record at the close of trading on Thursday, May 15, 2025, will be eligible for the dividend, with the option to receive it in cash or as new ordinary shares priced at €0.319 per share. BMIT’s Annual General Meeting is scheduled for Wednesday, June 18, 2025.

BMIT’s Directors propose a net dividend of €4.0 million, a 20% decrease year-over-year, representing a payout ratio of 96% (2023: 106%). The net dividend per share is €0.0189.

GO plc

GO’s Directors are proposing a final net dividend of €0.08 per share.

Subject to shareholder approval at the AGM on June 19, 2025, the final net dividend will be paid on June 24, 2025, to all shareholders on record at the close of trading on May 16, 2025.

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