Plaza Centres plc yesterday reported a slight increase in pre-tax profit to €1.33 million for the year ended December 31, 2012.

The board of directors has recommended the payment of a final net dividend of €698,272 or €0.0247 per share (2011: €0.0251 per share) for approval at the annual general meeting on May 31.

Turnover for the year rose 2.38 per cent to €2.25 million while the average occupancy was down to 84 per cent from 2011’s 92 per cent the previous year.

Plaza Centres explained the decrease in occupancy was due to some office space being vacated last year but occupancy levels should increase in the second half of the year.

The company’s costs were maintained at satisfactory levels and the 2012 cost to income ratio increased marginally to 33.07 per cent. The company said it is to continue to consolidate its market position and to look at new opportunities for expansion. The final net dividend will be paid to shareholders on the company’s register at close of trading on May 2.

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