Three companies' reports

In a company announcement issued on Wednesday, the board of directors of International Hotel Investments published the approved interim results for the six months ended June 30, 2002. Group revenue amounted to Lm6,776,122 (six months ended June 30, 2001: Lm1,978,136), profit for the period was Lm1,257,155 (six months ended June 30, 2001: Lm826,328), and earnings per share read 2c7 (six months ended June 30, 2001: 2c1). Meanwhile, trading in International Hotel Investments shares this week consisted of eight deals struck between Lm0.85 and Lm0.855 over which 21,040 shares changed hands.

More interim results, this time from Middlesea Insurance, were published this week. In a company announcement issued yesterday, the abridged financial statements for the period ended June 30, 2002 showed total income from insurance activities at Lm349,580 (six months ended June 30, 2001: loss of Lm434,114), profit for the six months at Lm586,980 (six months ended June 30, 2001: Lm510,697) and earnings per share of 4c7 (six months ended June 30, 2001: 4c1). On the equity market, 40,886 shares in Middlesea Insurance changed hands at Lm2.05 in two deals.

Global Financial Services Group also published its interim financial statements this week. The profit and loss account showed turnover down to Lm438,015 for the six months ended June 30, 2002 (six months ended June 30, 2001: Lm780,656), loss for the period at Lm68,708 (six months ended June 30, 2001: profit of Lm74,708), and loss per share of 0c2 (six months ended June 30, 2001: earnings per share 0c2). Meanwhile, Global Financial Services Group shares closed the week at Lm0.14, after six deals were struck between Lm0.149 and Lm0.14.

Nine deals were carried out in Maltacom shares on Monday, between the opening price of Lm1 and Lm1.03, the closing price. Turnover amounted to 8,210 shares. Tuesday saw the closing price gain 2c as 10,525 shares changed hands between Lm1.04 and 1.05 over eight deals. During Wednesday's session all three deals in Maltacom were struck at Lm1.04, as 1,755 shares were traded. Thursday's session was the most interesting for Maltacom shares, as trading opened at Lm1.02, went up to Lm1.03 then down to Lm1.002 before going up again to end the session at Lm1.02. Eighteen deals were struck over which 11,675 shares changed hands. Yesterday three deals were executed, over which 1,750 shares changed hands. Trading opened at Lm1.029 and closed at Lm1.03. Best bids for 500 shares at Lm1.02 and best offers of 310 shares at Lm1.03 were outstanding as at the close of yesterday's session.

Bank of Valletta shares opened trading this week at Lm2.45 and closed at their highest level for the week at Lm2.48 on Monday. Seven deals were struck that day, over which 8,700 shares changed hands. No trading was registered on Tuesday. Wednesday's session saw three deals being struck between Lm2.45 and Lm2.46, the latter being the closing price. 763 shares changed hands over these deals. On Thursday the closing price climbed by 1c8 as two deals were struck both at Lm2.478. Turnover amounted to 200 shares in these deals. Yesterday saw the closing price return back to the week's opening level, as trading was conducted between Lm2.477 and Lm2.45, the closing price. 1,977 shares were traded over seven deals. Following the close of business yesterday, 1,120 shares at Lm2.40 and 703 shares at Lm2.45 were the best unsatisfied bids and offers respectively.

In a company announcement issued on Monday, HSBC Bank Malta announced that Mr. Timothy Fitzpatrick has been appointed chief operating officer of HSBC Bank Malta with effect from October 4, 2002. Meanwhile, just one deal was struck in HSBC Bank Malta shares this week, as on Wednesday 500 shares changed hands at Lm3.75, down by 15c from the previous closing price. Best bids for 300 shares at Lm3.75 and best offers of 3,000 shares at Lm3.78 were the best unsatisfied positions as at the end of the week.

Lombard Bank Malta has on Tuesday announced that it has concluded the acquisition of 75 per cent of the Share Capital of Gasan Fund Management Limited. Following a resolution approved by the shareholders of Gasan Fund Management Limited the company has changed its name forthwith to Lombard Asset Managers Limited. In the meantime, no trading was witnessed in the bank's equity this week.

The other equities which traded during the week are shown hereunder, followed by the price range in which trading was struck; 2,000 shares in Plaza Centres struck at Lm0.71 and Lm0.73; 10,718 shares in Simonds Farsons Cisk struck between Lm0.675 and Lm0.70; 20,000 shares in FIMBank struck at $1.275 in the Put-Through Market and 1,000 shares in Datatrak Holdings struck at Lm0.41.

Trading over the week in corporate bonds was made up of the following:

Five deals struck in the 6.15 per cent Bank of Valletta 2010, in which a nominal value of Lm12,800 changed hands between Lm101.00 and Lm102.00;

Three deals struck in the 8 per cent Bank of Valletta 2010 (USD), in which a nominal value of $47,000 changed hands between $109.99 and $110.00;

One deal struck in the 6.5 per cent Corinthia Finance 2010 (EUR), in which a nominal value of EUR 12,000 changed hands at E100.00;

One deal struck in the 6.75 per cent Corinthia Finance 2012, in which a nominal value of Lm1,000 changed hands at Lm102.45;

Three deals struck in the 6.15 per cent Gasan Finance 2003/4, in which a nominal value of Lm2,200 changed hands at Lm100.15;

One deal struck in the 6.5 per cent Gasan Finance 2006/9, in which a nominal value of Lm2,000 changed hands at Lm101.75;

Three deals struck in the 7.25 per cent HSBC 2005, in which a nominal value of Lm4,100 changed hands between Lm104.50 and Lm105.00;

Three deals struck in the 6.7 per cent Mizzi Organisation Finance 2009/12, in which a nominal value of Lm6,000 changed hands between Lm101.00 and Lm103.00; and

Two deals struck in the 6.7 per cent Tumas Investments 2010/12, in which a nominal value of Lm5,000 changed hands at Lm100.00.

The Malta Stock Exchange Share Index decreased by 9.269 points over the week, equal to 0.5 per cent, and now stands at 1,802.617.

Total Malta Government Stock turnover over the week amounted to a nominal value of Lm86,700 being struck in 18 deals over eight different stocks. Interesting to note that during yesterday's session, no trading was carried out in Malta Government Stocks.