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NEWS | Wednesday, 08 August 2007

Plaza moves up

Plaza Centre plc has published its interim financial results for JUNE 2007.
With an increase in Turnover, operating profit and profit before tax, it was expected that the Earnings per share would be higher.
Turnover has increased by nearly Lm26, 000. The marketing, administrative and depreciation expenses increased slightly but not enough to affect the overall profit before tax which reads Lm239,000 being 12% more than last year.
Lokking at the Balance sheet, one notes the only notable movement refers to creditors that previously were due after the current year and now became due within a year. This may be related to the capital works being undertaken by Plaza to extend its commercial space to premises they obtained.
As to the cash generation, Plaza has improved its position. The directors inform their shareholders that the occupancy level of the PLAZA Complex is 100%, and do not envisage any change in the performance for the next 6 months.
No dividend is being proposed but shareholders know that the extension project when ready in 2008, would increase the revenue stream of PLAZA.


08 August 2007
ISSUE NO. 498


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