HSBC profits up 26%

In a company announcement on Friday, the board of directors of HSBC Bank Malta plc published the preliminary profit statement for the year ended December 31, 2004.

These show a net interest income of Lm39,479,000 (December, 2003: Lm34.7 million), profit attributable to shareholders of Lm22,130,000 (Lm16.8 million) and earnings per share of 60c7 (46c). A final gross dividend of 27c3 per share will be recommended for payment to shareholders registered on the company's register of members on Wednesday.

On Friday, the HSBC Bank Malta board also announced that they have decided to propose to the bank's shareholders and to the regulatory authorities, a change in the bank's Memorandum of Association authorising share capital of Lm40 million, presently divided into 160 million ordinary shares of 25c each, be split into 320 million ordinary shares of 12c5 each.

They also proposed that the issued and fully paid up capital of Lm9,120,000, currently divided into 36,480,000 ordinary shares of 25c each, be split into 12c5 each, which are all listed on the Malta Stock Exchange.

Meanwhile, HSBC Bank Malta shares opened trading at Lm8.97 and gained 7c last week ending at Lm9.04 on Friday. Total turnover amounted to 53,126 shares changing hands over 41 deals.

Trading last week ranged between Lm9.05 and Lm8.97. Following the close of business on Friday, 740 shares at Lm9.05 were the best outstanding bids and 1,288 shares at Lm9.04 were the best offers still unsatisfied.

Bank of Valletta shares opened at Lm4.75 and closed unchanged on Friday. A total of 23,579 shares changed hands last week in 45 deals.

Trading ranged between Lm4.82 and Lm4.72. As Friday's session drew to a close 200 shares at Lm4.72 and 1,000 shares at Lm4.82 were the best unsatisfied bids and offers, respectively.

Maltacom shares fell 9c9 last week to end at Lm1.60 on Friday, having opened at Lm1.699 on Monday. Total turnover amounted to 23,370 shares, changing hands over 29 deals.

As Friday's session drew to a close, bids for 750 shares at Lm1.58 and offers of 200 shares at Lm1.60 made up the best unsatisfied closing positions.

The other equities which traded last the week (with the trading range in brackets) were: 551 Lombard Bank shares (Lm4.35-Lm4.30); 450 Middlesea Insurance shares (Lm2.80-Lm2.799); 5,730 Simonds Farsons Cisk shares (Lm1.145-Lm1.121); 1,600 Suncrest Hotels shares (Lm0.352); 18,000 International Hotels Investments shares (€0.80-€0.79); 8,100 Plaza Centres shares (Lm0.644-Lm0.64); 89,650 FIM Bank shares (US$1.10); 9,729 Malta International Airport shares (Lm1.32-Lm1.30); and 23,000 Global Financial Services shares (Lm1.011-Lm1).

Total Malta Government Stock turnover amounted to a nominal value of Lm158,900, being traded in 28 deals over 13 different stocks. Trading over the week in corporate bonds was made up of a total value of Lm114,777.

The Malta Stock Exchange Share Index fell 15.83 points or 0.47 % over the week and now stands at 3,317.398.