Fimbank flies - up 7.3 per cent

The week's star performer was Fimbank plc (FIM) - up a strapping 7.3 per cent. It started the week flat at US$1.74, maintaining this price on Tuesday. Thursday saw the price climb 3c to $1.77 as the Company's Financial Statements for the year ended December 31, were released ahead of trading. The excellent results helped push the price higher yesterday as FIM opened at $1.77 and continued to power ahead, stopping at $1.867 - the top of the day's allowable price range. Turnover for the week was just over 105,000 shares for a value of Lm61,170.

On Thursday FIM published the Group's consolidated Financial Statements for the year ended December 31. The really good news had nothing to do with the operating profit, which increased by an unexciting 3.7 per cent to US$2.125 million. What really set off the fireworks in the pre-tax figures, was the US$2.55 million generated by one of FIM's associates, Global Trade Finance Ltd. This in turn made for a brilliant overall increase in profits before tax of 58.9 per cent to US$4.68 million, with the basic Earnings per Share increasing from 3.34 US cents to 8.83 US cents - a stunning 164 per cent.

The Board will be recommending the payment of a scrip dividend of US$3.04 million, i.e. 3.5244 US cents per ordinary share. Shareholders on the books on February 28, i.e. those who bought the shares by close of yesterday's trading, will be entitled to this dividend. The attribution price for calculating the scrip dividend will be calculated after the February 28. The week's second best performer with a 4.1 per cent increase was the Alternative Companies List Datatrak plc. It was stable at 24c5 on Monday and added one cent on Tuesday. It did not trade for the rest of the week, holding on to this welcome gain.

Simonds Farsons Cisk plc was next in line with a 1.2 per cent increase to 84c. It advanced for the second consecutive week. Turnover however was very slim, restricted to 3,459 shares on Tuesday. GlobalCapital plc closed the week 1 per cent ahead, gaining a cent to Lm2.01 on Tuesday and picked up another cent to Lm2.02 yesterday.

Maltacom plc (MLC) topped the list of week's losers with a disheartening four per cent drop on the week. It ended its record week-long trading silence on Monday, opening 2c lower than its previous Lm1.48 close, also ending the session at Lm1.46. On Tuesday it stumbled to a 17- month low of Lm1.42, recovering somewhat on Wednesday as it closed at Lm1.449. It was stable on Thursday only to lose its balance again yesterday and slip back to Lm1.42. At the end of yesterday's session, the best bid was for 500 shares at Lm1.421 and the best offer for 5,000 shares at Lm1.43.

Malta International Airport plc's turnover for the week was a poor 5,100 shares for a value of Lm6,984. It first traded on Tuesday, shedding 3.4 per cent to Lm1.35, but recovered most of the lost ground when it dealt again on Thursday, trading at Lm1.38 and Lm1.386. It didn't trade yesterday to end the week 0.9 per cent lower. At the end of the session, best bids were for 900 shares at Lm1.36 while offers for 600 shares started at Lm1.386.

International Hotel Investments plc closed the week 0.7 per cent lower at Eur1.112; volume consisted of just one deal for 4961 shares.

Bank of Valletta plc closed yesterday 0.6 per cent lower in a quiet week. The week's price range was a high of Lm3.695 and a low of Lm3.65. The daily closing prices hardly varied: Monday's was Lm3.68, Tuesday and Wednesday Lm3.69, Thursday's was Lm3.688 while yesterday BOV closed at Lm3.678 - 2c1 down on the week. In total, 18,238 shares changed hands for a value of Lm67,117. At the end of trading, best bids totalled 350 shares at Lm3.601, with a miniscule supply of 12 shares starting at Lm3.676.

HSBC Bank Malta plc also had an uneventful week, closing 0.5 per cent lower. The highest price it traded at was Lm2.16, early on last Monday. It ping-ponged between Lm2.15 and Lm2.125 up to Wednesday. The main highlight of Thursday's trading was a matched deal for 368,000 shares - for a value of just over Lm790,000. The other deals were comparatively small as the price slid lower, closing at Lm2.129. Yesterday saw HSB open and close at Lm2.125. Investors who purchase shares up to next Tuesday will be eligible for the 10c5 gross (6c9 net) dividend. At the end of trading, bids for 2333 shares started at Lm2.10, while the best offer for 992 shares stood at Lm2.124.

Plaza Centres plc was stable at 71c in the week's single deal for 912 shares. Middlesea Insurance plc also traded unchanged at Lm1.98: it was active on Monday and Thursday in low turnover which totaled just 2840 shares. Medserv plc was similarly static, flat at Lm1.42. It only traded yesterday on turnover of 5,150 shares.

The Government Bond market had its best week for the last nine months with a turnover value of Lm8,985,307. The busiest was the 7.5 per cent MGS 2011, accounting for 47 per cent of the total. In the corporate bond market turnover reached Lm35,525 spread over 16 deals.

Financial Planning Services Limited is licensed by the MFSA to provide investment services, including stockbroking (IS/3608). The Directors or related parties, including the company, and their clients, are likely to have an interest in securities mentioned. This article is only meant to provide information and is not intended to give investment advice. The value of securities, and the currencies in which they are denominated, may go down as well as up.