Woolworth (Cyprus) Properties Plc reported a sharp swing to profit for the first half of 2025, driven by lower financing costs, reduced administrative expenses and the completion of major debt-related transactions.
According to the interim results, the group generated income of €647,000 for the six months to 30 June 2025, compared with €662,000 in the corresponding period of 2024.
Operating profit reached €555,000, compared with €115,000 last year.
Net profit amounted to €944,000, compared with a loss of €3,200,000 in 2024.
The 2024 loss stemmed mainly from a €10,000,000 reduction in the final disposal value of the Aura project and a €7,500,000 gain from the impairment of bank borrowings.
The date of the company’s annual general meeting will be announced at a later stage.
The board submitted the group’s unaudited condensed consolidated financial statements for the period ending 30 June 2025, noting that the company’s core activity remains the ownership, development, management and commercial exploitation of real estate.
The consolidated results include the performance of subsidiaries Zako Ltd, Apex Ltd a
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