In a company announcement issued on Wednesday Maltacom plc published the financial statements for the year ended December 31, 2002. These show turnover at Lm54,580,000 (year ended December 31, 2001: Lm50,752,000), profit after tax at Lm9,633,000 (year ended December 31, 2001: Lm9,337,000) and earnings per share of 9c5 (year ended December 31, 2001: 9c2).
The board of directors of Maltacom is also proposing the payment of a net dividend of 3c7 per share to all shareholders on the register at the close of business on the April 21, 2003. The board also decided that the annual general meeting is to be held on May 16, 2003.
Maltacom plc registered the highest turnover in equities for this week, with 92,252 shares changing hands over 38 deals. Trading was conducted between Lm0.88 and Lm0.91, before eventually closing at Lm0.895. As yesterday's session drew to a close, 3,150 shares at Lm0.87 were the best bids still outstanding, while 4,238 shares at Lm0.91 were the best unsatisfied offers.
In a company announcement issued yesterday the board of directors of Middlesea Insurance plc published the preliminary profit statement for the year ended December 31, 2002. Total gross premiums written for the year amounted to Lm31,716,098 (year ended December 31, 2001: Lm24,326,758), profit on ordinary activities after tax was Lm1,140,463 (year ended December 31, 2001: Lm1,423,322), and earnings per share were 9c1 (year ended December 31, 2001: 11c4).
The board of directors is also recommending the payment of a net final dividend of Lm568,750. Another company announcement by Middlesea Insurance plc stated that the May 10, 2003 is the date fixed for closure of the register of shareholders, while the June 18, 2003 is the proposed date for the payment of a dividend if approved by the general meeting.
Bank of Valletta shares opened trading at Lm2.32, touched the Lm2.299 mark briefly and closed at Lm2.30, unchanged from the previous week. Turnover consisted of 32,102 shares changing hands over 12 deals. Following yesterday's session 2,000 shares at Lm2.26 and 1,923 shares at Lm2.30 were the best outstanding bids and offers respectively.
A mere 350 shares changed hands in HSBC Bank Malta this week. These were spread over three deals struck at Lm3.995 and Lm4, this latter being the closing price for the week. Best bids for 1,500 shares at Lm3.95 stood against best offers of 201 shares at Lm4 at the close of business yesterday.
Datatrak Holdings plc was the only other equity to trade during the week. Two deals were struck at Lm0.42 and Lm0.435. These were the opening and closing prices of the week respectively. 3,000 shares at Lm0.445 were the best offers outstanding, while no bids were left.
FIMBank plc also issued a company announcment yesterday, which contained a number of ordinary and extraordinary resolutions that will be presented before the annual general meeting on Friday, May 2, 2003.
Trading over the week in corporate bonds was made up of a total value of Lm133,796, while total Malta Government Stock turnover over the week amounted to a nominal value of Lm386,900 being struck in 21 deals over nine different stocks.
The Malta Stock Exchange share index decreased by 1.623 points or 0.09 per cent over the week and now stands at 1,859.93.