Pavi Shopping Complex plc of Qormi has reported after-tax profits of €685,159 for the first half of the year to October 31, up from last year’s interim profits of €570,492.

The supermarket complex continued to show further improvement in its operating results, particularly its super-market operations as turnover increased by 10 per cent despite increased competitor activity, the directors said.

In a company announcement reporting its half-yearly consolidated results to October 31, Pavi said its group operating profit for the first six months increased by 14 per cent to €1,416,587.

“Management is cautiously optimistic, expecting that the positive trend experienced in the first half of the financial year will be sustained till year end.”

The directors do not recommend the payment of an interim dividend.