Issue link: https://maltatoday.uberflip.com/i/1507984
6 maltatoday | WEDNESDAY • 20 SEPTEMBER 2023 NEWS NEWS CABINET has decided on new rules that prevent con- struction works from starting pending the outcome of a planning appeal, the Prime Minister announced. On X, formerly known as Twitter, Robert Abela said the measure will "suspend the commencement of construction works until the appeal process would be exhausted". He provided no further details but said a consulta- tion process will be held and encouraged people to participate. The decision comes more than four months after the Prime Minister had floated the idea during the Workers' Day mass meeting. Environmental activists have long called for such a measure to be introduced. There have been cases of planning permits being overturned on appeal but works would have already commenced on the site. The most recent case involved an eight-storey hotel part of a mixed-use development in Mellieħa with the developer having to pull down two storeys after the court partially revoked the permit that had been issued. Works on the project had commenced before the appeals process was over, something that is al- lowed with existing rules. Cabinet approves new rule suspending construction work until planning appeal process ends KARL AZZOPARDI SD Holdings Limited, the holdings com- pany of db Group registered an after-tax profit of €12.4 million for the financial year ending 31 March 2023. The company registered an after-tax profit increase of €1.8 million over the previous year, while registering €70.8 million in revenue. The group's total assets now reached €376 million, up from the previous year's €350 million. The increase in profitability and gen- eral performance of the Group was wel- comed by the board of directors, par- ticularly in view of the high inflation which impacted the payroll and supply chain. "In the last few years, the pandemic and the war in Ukraine posed unprece- dented challenges to business, particu- larly in the sectors in which we have a footprint. Through careful manage- ment of costs and an enhanced focus on driving up revenues with strategic investments, we managed to perform strongly and ended the financial year in a considerably stronger position," CEO Robert Debono. In the food and beverage sector, the db Group almost doubled its figures, reaching a turnover of €25.4 million compared to €14.1 million in the previ- ous year. This was mainly due to the ex- ponential performance of Starbucks, as well as the opening of new restaurants - LOA in St Paul's Bay, Tora and Manta in Sliema, and Verani at the Malta In- ternational Airport. The group's hotel portfolio occupancy also increased to 85%. The db Group also revealed it will be expanding internationally, with a new restaurant at Cavendish Square being the group's first foray beyond Maltese shores. A central London office has been set up to manage these strategic global in- vestments. "The db Group has also unveiled its new branding which incorporates db's signature of excellence and a set of new colours and fonts to reflect an out- ward-looking Maltese identity," a state- ment read db Group registers €12.4 million in after- tax profit in year ending March 2023 Company announces it will be expanding internationally with a new restaurant at Cavendish Square, London