On 22 March 2010 Plaza Centres plc announced its 2009 full-year results revealing a 9% rise in revenue to €2 million mainly as a result of a full-year’s contribution of the increased rentable area following the extension completed in April 2008. This rise in turnover helped the profit for the year rise by 6.8% to €0.84 million. The Directors stated that despite the challenging economic environment Plaza managed to maintain a high level of occupancy during 2009 at 94% compared to 96.8% in 2008. During 2009, the Company purchased additional property adjacent to the existing Plaza Commercial Centre and works have already started on phase three of its expansion project during the last quarter of 2009. This extension is expected to be completed in December 2010 or early 2011. Plaza’s Directors retained a cautious outlook for 2010 in view of the changing dynamics of the local retailing industry.
Plaza maintained a 95% dividend payout ratio with the Directors recommending the payment of a final gross dividend of €0.13 per share (net: €0.0845), representing an increase of 6.8% over last year’s dividend payment. Shareholders as at close of trading on Tuesday 6 April will be entitled to this dividend, which will be paid on 6 May 2010 following approval by shareholders during the Company’s Annual General Meeting scheduled to be held on 29 April.