Trident Estates plc - Interim Results

On 26 September 2025, Trident Estates plc published its interim financial statements covering the six-month period ended 31 July 2025.

Revenues increased by 12.6% to a record (at the interim stage) of €2.82 million (H1 2024/25: €2.51 million) reflecting the higher occupancy levels at Trident Park. In this respect, the company explained that management pursued further tenancy agreements and contracted 86% of the space available, with the majority of the contracted tenants already physically occupying the leased spaces.

On the expenditure side, total operating costs increased by 9.1% to €1.07 million compared to €0.98 million in the same period last year.

Meanwhile, finance costs remained unchanged from the previous year at €0.67 million.

As a result, the pre-tax profit surged by 23.9% to €1.13 million compared to €0.91 million in the same period last year. After accounting for a tax charge of €0.41 million, the net profit for the period amounted to €0.71 million compared to €0.68 million in the same period last year.

The condensed Statement of Financial Position as at 31 July 2025, when compared to the figures as at 31 January 2025, shows that total assets increased by €0.9 million to €107.1 million. Meanwhile, total liabilities rose by €0.7 million to €42.2 million while total equity increased by €0.2 million to €64.3 million, which translates into a net asset value per share of €1.530 (31 January 2025: €1.525).

Outlook

The Board of Directors explained that it remains cautiously optimistic that the results will continue to improve as the occupancy at Trident Park increases. Nonetheless, it expects revenues and profits to plateau once occupancy is nearly full and operations at Trident Park are fully optimised.  Meanwhile, management will continue to market the unoccupied spaces of Trident Park as it is continually adapting and reconfiguring the vacant units at Trident Park to better meet market demand.

With respect to the Trident House property in Qormi, management continued to receive offers from serious parties interested in acquiring the property, while still evaluating all options to determine the best use of this asset.

The company is planning restoration and property repairs at the Sliema Point Battery and the Burger King outlet in Paceville.