Lordos Hotels sees profit rise to €5.3 million, proposes dividend

Lordos Hotels (Holdings) Public Ltd on Thursday announced that its board of directors approved the annual report for 2025 and set the date for the company’s annual general meeting (AGM).

Consequently, the company confirmed that the annual general meeting will take place on June 24, 2026 at 18:00 at the Golden Bay Hotel in Larnaca.

Moreover, the board approved the management report, the audited consolidated financial statements, and the corporate governance report for 2025, all of which will be presented for discussion at the meeting.

The company reported that profit attributable to shareholders reached €4.3 million in 2025, compared with €3.5 million in 2024.

Overall profit for the year increased to €5.3 million, up from €4.1 million recorded in 2024.

The net earnings per share attributable to shareholders rose to 12.42 cents in 2025, compared with 10.13 cents in the previous year.

The board decided, after reviewing all relevant data, to propose the payment of a dividend of €0.04 per share, corresponding to 11.76 per cent of the nominal value of the share.

The group’s total income increased by €5 million, representing a 21 per cent rise, reaching €29.4 million in 2025 from €24.4 million in 2024.

This increase was attributed to higher hotel occupancy rates and increased revenue per room across the group’s properties.

As a result, the gross profit of the group rose by 28 per cent, or €3.3 million, climbing from €11.8 million in 2024 to €15.1 million in 2025.

The group’s sales and marketing expenses increased by 7 per cent to €719,200 in 2025, compared with €671,300 in 2024, primarily reflecting higher advertising and hospitality costs.

At the same time, administrative expenses rose by 17 per cent to €7.2 million in 2025, compared with €6.2 million in the previous year.

Within administrative expenses, €2.8 million, or 39 per cent of the total, relates to depreciation of property, plant, and equipment, compared with €1.9 million, or 31 per cent, in 2024.

The group’s net finance costs decreased to €565,000 in 2025, from €605,000 in 2024, mainly relating to interest on loans used to finance capital investments in the group’s hotels.

The proposed record date for determining eligible shareholders has been set for July 6, 2026.

Transactions completed up to the end of the trading session on July 2, 2026 will be included in the register for the record date.

As a result, shares of the company will trade with dividend entitlement until July 2, 2026.

From the start of trading on July 3, 2026, the shares will trade without dividend entitlement.

Eligible beneficiaries will also include investors who have completed over-the-counter transactions that have been registered in the Central Securities Depository system by the record date.

The proposed dividend payment date has been set for July 15, 2026, with the exact dispatch date to be announced at a later stage.

The company also reminded shareholders of their right under article 127B of the Companies Law Cap. 113 and the corporate governance code to add items to the agenda of the annual general meeting and to submit draft resolutions.

A request from shareholder or shareholders holding at least 5 per cent of the issued share capital must be submitted in written or electronic form by May 13, 2026, which is at least 42 days before the meeting.

Finally, the company stated that the total number of issued shares currently stands at 35,009,157.