DURING THE FIRST HALF OF 2024, THE COMPANY REGISTERED A PROFIT AFTER TAX OF €1,802,777 (30 JUNE 2023: €1,926,914). THE COMPANY’S OPERATING PROFITS AMOUNTED TO €2,427,723 REPRESENTING A DROP OF 5% OVER THE SAME PERIOD LAST YEAR. THIS MARGINAL DECREASE IN PROFITABILITY IS PRIMARILY ATTRIBUTABLE TO A HIGHER DEPRECIATION CHARGE ON THE BACK OF INCREASED CAPITAL EXPENDITURE INCURRED DURING THIS SAME PERIOD.

The Company has continued to meet its loan repayment obligations, easing the annual burden of loan interest over the years. In view of the healthy cash flow and the reduction in bank borrowings to just over €6 million, the Company plans to maintain its semi-annual dividend policy for 2024.

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