On 21 November, Plaza Centres plc issued its Interim Directors’ Statement announcing satisfactory results during the third quarter of 2011 compared to the corresponding period last year. Plaza explained that the increased revenue during Q3 was mainly due to the additional income generated from the new extension, inaugurated in March 2011, which added a further 1,600 square metres of rentable space. On the other hand, the main increase in expenditure was attributed to the finance costs incurred with respect to the funding required for this extension.
During the three months ended 30 September 2011, occupancy levels remained high (30 June 2011: 91%) and are expected to be maintained during the fourth quarter of 2011.
In conclusion the Directors stated that during the period under review the Company’s financial position has remained satisfactory and is in line with expectations.