Stock Market report: IT companies publish 2009 results

RS2 Software plc and 6pm Holdings plc yesterday evening issued their respective 2009 financial results. RS2 Software plc reported a substantial drop in pre-tax profits to €431,247 and their directors confirmed that the decline in requests from their clients may persist for the medium term. RS2's directors say that it will take some time before the previous momentum is regained. As a result of significant investment tax credits, RS2 Software plc registered a profit of just over €1 million and the directors recommended the payment of an unchanged net dividend of €0.022 per share to those shareholders as at close of trading on Friday 7 May 2010.

Meanwhile 6pm Holdings plc revealed an improved level of profitability to GBP150,265 as cost savings outweighed the drop in revenues. The Directors did not recommend the payment of a dividend. Since 6pm's listing in 2007, the IT Group only distributed a dividend on one occasion.

Trading on the Borza today was mainly characterized by the recovery in the share price of HSBC Bank Malta plc and a new 2010 high for MaltaPost plc. HSBC's share price this morning recovered some of its recent declines with a 1% increase to €3.08. Sustained demand for MaltaPost shares helped the equity of the postal operator rise by a further 2.4% to a fresh 2010 high of €0.819 on high volumes of over 41,000 shares.

Bank of Valletta plc's equity registered increased volumes of over 17,000 shares ahead of the March 2010 interim results publication due on Friday 30 April. BOV's share price closed unchanged at the €3.30 level.

More information at: www.rizzofarrugia.com