Plaza Centres plc - Interim Directors’ Statement

Monday, October 22nd, 2012

On 22 October, Plaza Centres plc issued its Interim Directors’ Statement in which it reported satisfactory results during the nine months ended 30 September 2012.

The Directors explained that revenue is higher due to the new rents generated from the third extension of the complex which was inaugurated in March 2011. Nonetheless, this was partially offset by the termination of an office tenant. Moreover, the re-leasing of this vacated space was slower than anticipated. Plaza also reported that expenses mainly increased due to the one-off additional listing costs incurred by the Company following the redenomination of the Company’s shares in June 2012.

Average occupancy during the nine months ended 30 September 2012 was 87%, 4% less than the corresponding period last year due to the space that was vacated during the period under review. Nonetheless, the Company reiterated that it is negotiating new leases for the remaining vacant areas.

In conclusion, the Directors noted that the Company’s financial position is satisfactory and in line with expectations.

 

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