Plaza Centres annual meeting

Plaza Centres plc held its Annual General Meeting last month, at the Plaza Commercial Centre.

Plaza Centres chairman Albert Mizzi reported the results for the financial year ending December 31, for the fifth consecutive year since the company went public. "In line with the expectations of our directors, the performance of Plaza Centres plc has shown satisfactory growth in terms of occupancy and profitability whilst also improving on its cost to income ratio.

"Whereas profit on ordinary activities before tax increased by 19.74 per cent, profit for the year after tax increased by 20.38 per cent (compared to 2003)," he said.

The shareholders present approved all the ordinary resolutions on the Agenda. With regards to growth, Mr Mizzi informed the shareholders that the company is pursuing both market penetration and market development strategies.

Questioned for details on the company's market development strategy he replied that information will be divulged as soon as an agreement is signed with the parties concerned and concluded his address by paying tribute to the late Julian P. Zammit, who passed away on March 3.