On 28 August, MIDI plc published its 2009 Interim Report. The results show an 8.2% rise in profits after tax when compared with the profits registered in the same period last year. The Company generated total revenue of €19.7 million following the delivery of a further 36 apartments in the area known as Tigne South. The Directors commented that during the period under review new apartment sales, by way of preliminary agreements, remained satisfactory and at sustained price levels despite the slowdown in the economy.
Construction works focused on the pjazza and The Point shopping mall which are both schedueld to open by 2010. Moreover finishing works continued on the Tigne South Clubhouse and the T10 residential Block. MIDI also continued the restoration works at Tigne Point, Fort Tigne and Fort Manoel in Manoel Island.
In conclusion, the Directors stated that they do not expect any negative impact on the Company’s financial statements for the remaining six months of the year and its final position as at 31 December 2009.
Download a copy of the MIDI plc 2009 Interim Results .