ACMUS swings to €1.32 million first-half profit

Revenue reaches €7.09 million

ACMUS plc returned to profit in the first six months of 2026, reporting revenue of €7.09 million.

Gross profit amounted to €2.02 million, while operating profit reached €1.88 million. After finance costs, depreciation and tax, the property development group recorded a profit after tax of €1.32 million, compared with a loss of €70,351 in the comparative group figures for the first half of 2025.

Profit before tax stood at €1.87 million.

Assets and equity increase

Total group assets rose to €41.87 million at the end of June, from €39.90 million at the end of 2025.

Inventories, which mainly reflect the group’s property development portfolio, increased to €33.68 million, while cash and bank balances reached €3.02 million. Total equity also strengthened to €9.50 million, up from €6.99 million at year-end.

The directors did not recommend a dividend for the period.

Development projects move forward

ACMUS said the La Carmela development in Mġarr and Shangrivill in Mosta were completed during the first quarter, while Olea Court in St Julian’s was completed in the second quarter.

The group’s pipeline also includes the 38-unit Elm development in St Julian’s, together with projects in St Paul’s Bay and Marsascala that are expected to be completed between late 2026 and 2027.

ACMUS also has €23 million in 5.25% Secured Bonds 2028–2030 in issue, of which €19 million had been drawn by 30 June.

Disclaimer: Interim reports may reflect only the issuing company and may not include the financial performance of its group companies.