Main Street Complex plc - 2018 Performance Update

Thursday, January 17th, 2019

On 17 January 2019, Main Street Complex plc (“MSC”) issued an announcement providing an overview of its operational performance in 2018.

The company explained that total footfall at its commercial premises located in Paola exceeded 840,000 visitors. This is the highest footfall ever recorded by MSC since inauguration of its mall in 2004 which, in turn, reflect consistent monthly increases in footfall particularly during the last five months of the year. In addition, MSC noted the appeal of its mix of tenants, the various initiatives taken by the company to enhance the customer experience at its complex, as well as the completion of the Antoine De Paule Square project which has further increased the attractiveness of the surrounding area and the popularity of Main Street Complex at large.

Main Street Complex had an occupancy level of 96% as at the end of 2018. In this respect, MSC is aiming at securing full (100%) occupancy in the course of 2019 by seeking suitable operators that would enhance the tenant mix within the complex. Moreover, key management decisions have mitigated the effect of any revenue shortfall from the unoccupied area, such that company earnings for the year are largely expected to be in line with budget. MSC also added that it has recently completed its investment in a photovoltaic panel system, through which Main Street Complex is expected to derive most of its own energy usage as well as contribute to the national grid.

Print This Page Print This Page