Woolworth Cyprus: Mall visits steady at 6.5 mln

Woolworth (Cyprus) Properties Plc, the property management and developer arm of the NK Shacolas Group, saw a small rise in operating profits from 17.99 mln euros in 2011 to 19 mln last year, with rent incomes from commercial properties dropping slightly from 21.1 mln euros to 20.6 mln in 2012. After tax profits were marginally dwon from 6.7 mln euros in 2011 to 6 mln last year.
Announcing the results to shareholders, Chairman Demetris Demetriou said visits to the Shacolas Commercial Park were unchanged in 2012 at 6.5 mln and that the Mall of Cyprus will see an extension of 4,000 sq.m. with more shopping space and parking.
Demetriou also said that in February of this year, Cyprus Limni Resorts & GolfCourses Plc, in which Woolworth has a significant stake, secured its initial permits for two golf courses in accordance with the plans set out for the creation of the Limni Bay resort near Polis Chrysochous. Further permits are expected “within the next few days,” he said.
The company is proceeding with various infrastructure projects and investor roadshows, while Limni has already invested some 40 mln euros in environmental projects in the area.