The Convenience Shop (Holding) plc - Full-Year Results

On 28 March 2024, The Convenience Shop (Holding) plc (“Convenience”) published its Annual Report and Financial Statements for the financial year ended 31 December 2023.

Revenues grew by 10.1% to €46.7 million compared to €42.4 million generated in the previous year primarily due to a significant increase in outlet sales as well as the expansion of the Group’s franchise model.

Operating costs also increased notably by 10.9% to €43.7 million (2022: €39.4 million) driven by an investment in human resources and inflationary pressures. Consequently, the company’s operating profit remained at €3.02 million, practically unchanged from the previous financial year.

After accounting for other income of €0.91 million, net finance costs of €0.82 million and a tax charge of €0.47 million, the company reported a net profit attributable to shareholders of €2.63 million which is 37.1% higher than the €1.92 million reported in 2022, resulting in a return on average equity of 30.2% (2022: 35.6%).

In terms of financial position, total assets grew by 15.4% to €38.8 million compared to €33.6 million as at the end of 2022. Similarly, total liabilities also grew by 11.7% to €29.0 million. Meanwhile, total equity expanded by 27.8% to €9.8 million.


The Directors declared a net final dividend of €0.036 per share payable on 28 June 2024 to all shareholders as at the close of trading on 27 March 2024 subject to shareholders’ approval at the Annual General Meeting scheduled for 29 April 2024.

Coupled with the net interim dividend of €0.015 per share paid in September 2023, the total net dividend attributable for the 2023 financial year amounts to €0.051 per share, which represents a payout ratio of 59.8%.


In their commentary, the Directors explained that the Group’s main goal for 2024 is to further enhance the shopper experience and customer satisfaction by improving category management and expanding product offerings.

By the second quarter of 2024, Convenience will unveil a new flagship head office in Qormi, spanning over 1,350 square meters. The facility will house modern office spaces, a retail outlet, a family-friendly food court, and a cafeteria.

The Group will also explore and implement technologies, digital solutions, and sustainable practices to enhance the shopping experience and minimise environmental impacts.