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Mall Of Cyprus Raises First-Half Profit 25.5% As Leasing Income Strengthens And Borrowing Costs Ease

by THEFUTURE.TEAM

September 30, 2026

Higher Rental Income And Lower Finance Costs Lift First-Half Earnings

Mall of Cyprus (MC) Plc reported a 25.5% rise in first-half profit for 2026, supported by stronger income from commercial space and a decline in finance costs, while its liquidity position improved materially.

According to the company’s unaudited interim financial statements for the six months ended June 30, 2026, filed via the Cyprus Stock Exchange’s official disclosure system, profit after tax increased to €5.96 million from €4.75 million a year earlier.

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Leasing Revenue Remains The Core Growth Driver

Revenue from rights for the use of space and other income climbed almost 8% to €10.39 million, compared with €9.63 million in the first half of 2025.

The improvement was driven primarily by stronger performance across the mall’s commercial spaces. Minimum licence fees rose to €7.75 million from €7.34 million, while additional licence fees increased to €185,118 from €151,837.

Licence fees tied to common-area contributions also edged higher, reaching €711,979 from €700,806, and turnover-related licence fees advanced to €173,486 from €152,951. In total, licence-fee income increased to €8.28 million from €7.82 million. Income from recharged utilities and other recoveries also improved, rising to €2.11 million from €1.81 million.

Other operating income, which includes advertising, car parking and electricity income, increased to €720,982 from €453,481 in the comparable period last year.

Operating Profit Expands Despite Higher Expenses

As a result, operating profit rose by about 17% to €8.68 million from €7.42 million.

Administration and other operating expenses also increased, though at a slower pace, to €2.75 million from €2.58 million. Property management, maintenance and utility costs accounted for roughly €2.25 million of that total.

Net finance costs declined slightly to €2.17 million from €2.24 million a year earlier, helping support the stronger bottom line. Profit before tax climbed to €6.53 million, compared with €5.14 million in the first half of 2025.

Tax Changes And Dividend Distribution Weighed On The Bottom Line

The company’s tax charge rose to €569,236 from €389,866, with the financial statements noting that Cyprus’ corporation tax rate increased to 15% from 12.5%.

Earnings per share improved to 1.79 cents from 1.42 cents in the prior-year period. On July 3, Mall of Cyprus also approved an interim dividend of €6 million, which was paid to shareholders on July 20.

Balance Sheet Strengthens As Cash Rises

The company ended the period with a stronger cash position. Cash at bank and in hand stood at €13.63 million on June 30, compared with €9.14 million at the end of 2025.

Total assets rose to €255.1 million from €250.7 million at the end of December, while total equity increased to €127.61 million from €121.65 million.

Investment property was valued at €239.73 million, with the company recording a €213,461 fair-value loss on investment property during the first half of the year.

Borrowings declined to €97.23 million from €98.14 million at the end of 2025, while the weighted average effective interest rate on bank loans fell to 4.02% from 4.28%.

Cash generated from operations came to €7.81 million, while net cash generated from operating activities reached €7.68 million, compared with €8.12 million in the same period last year.

Tenant Relations And Cost Discipline Remain The Focus

Mall of Cyprus’ principal activity remains the leasing and granting of rights for the use of space at Shacolas Emporium Park in Strovolos, home to the Mall of Cyprus, IKEA and other retail and commercial developments.

Management said its priorities are to maintain close relationships with tenants, secure new occupiers where possible and keep operating costs under control, while continuing to monitor economic and geopolitical risks that could affect consumer spending and the wider retail sector.

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EU Agrees On Major Overhaul Of Financial Market Supervision

by THEFUTURE.TEAM

October 9, 2026

European Union finance ministers have reached agreement on a sweeping package designed to strengthen oversight of the bloc’s financial markets, in a move aimed at reducing fragmentation and improving the flow of capital across borders.

A Push To Deepen Capital Markets

The Market Integration and Supervision Package, or MISP, would grant the European Securities and Markets Authority direct supervision over major market operators that are currently regulated by national authorities. The reforms are intended to make Europe’s capital markets more integrated, more efficient and better able to channel savings into productive investment.

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According to the Irish presidency, the package is meant to help savings and investments move more freely across the European Union, improving access to finance for companies while giving households broader opportunities to earn returns on their savings.

What The Reform Would Change

Under the new framework, ESMA would take direct oversight of key trading venues, clearing houses, securities settlement bodies and crypto-asset service providers. The package would also establish a permanent, independent executive board within the regulator, strengthening its institutional capacity.

Market operators would be able to opt into a new EU-wide operating framework. In parallel, the reforms would seek to make national supervision more consistent and update rules governing trading, transaction completion, investment management and the use of blockchain technology.

Why The Agreement Matters

Supporters of deeper capital markets argue that Europe has long paid a price for regulatory inconsistency. While many rules are harmonised across the bloc, differences in enforcement and supervision have contributed to a patchwork system that can make cross-border investment slower and more costly.

A more integrated framework, proponents say, could lower costs for companies seeking funding and broaden the menu of investment options available to savers and institutional investors alike.

Outstanding Questions Remain

Despite the broad agreement, some important details remain unresolved. Trading venues operated by Deutsche Börse, the company behind the Frankfurt stock exchange, may remain outside ESMA’s direct supervision.

Euronews previously reported that Germany had secured an exemption for Deutsche Börse’s domestically focused trading venues, leaving part of the system under regional supervision. The latest announcement did not clarify whether that arrangement will stand.

A Step Forward For The Savings And Investments Union

Dutch Finance Minister Eelco Heinen welcomed the deal, calling it a major advance for the Capital Markets Union and saying Europe had made more progress in 10 months than in the previous 10 years.

The agreement is an important milestone in the Savings and Investments Union, the EU’s broader effort to channel more of Europeans’ savings into investments that can support growth, innovation and competitiveness across the bloc.