The Malta Stock Exchange index partially shaved off the previous week’s gains, having declined by 0.11 per cent, to close at 4,563.341 points. Turnover amounted to €1.4 million spread across 20 equities of which nine fell, six gained ground and five closed unchanged.
Simonds Farsons Cisk plc reported its preliminary financial statements for the year ended January 31, 2016. The group recorded a profit of €11.2 million equivalent to an increase of €3.2 million or 40 per cent over the previous financial year. Pre-tax profit from continuing operations was €10.1 million – up by 22.8 per cent from the previous year. The board of directors is recommend a net dividend of €0.0733 per share, to be paid on June 30 to shareholders on the shareholder register as at May 27, 2016. The equity closed the week unchanged at €6.30 over three trades of a mere 600 shares.
FIMBank plc shares registered an increase for the 10th consecutive week, having advanced by 9.7 per cent over 13 trades of 167,876 shares, closing $0.075 higher at $0.85.
HSBC Bank Malta plc shares fell by €0.05 or three per cent as 35,201 shares were negotiated, to close at €1.60.
Similarly, Bank of Valletta plc shares registered a 1.3 per cent decline as 45 deals of 88,504 shares were struck, closing €0.03 lower at €2.24. The equity started trading ex-dividend on Wednesday.
GlobalCapital plc shares headed the list of gainers having appreciated by 12.5 per cent as 8,214 shares changed ownership, to close €0.05 higher at €0.45.
Tigne Mall plc shares were the worst performers having stumbled by €0.089 or 7.8 per cent across two trades of 48,200 shares. In its interim directors’ statement released yesterday, the company reported an increase in tenant sales when compared to the first quarter of 2015 as the mall continues to be fully let. The company’s financial position is improving and the outlook for the rest of 2016 remains positive.
In the IT sector, 6pm Holdings plc shares fell by £0.05 or five per cent as eight deals of 69,781 shares were negotiated, ending the week at £0.95. On a similar note, RS2 Software plc shares edged 0.2 per cent lower as 154,841 shares changed hands on the highest turnover this week worth €585k, to close at €3.789.
Loqus Holdings plc shares traded flat at €0.131 over a sole transaction of 1,750 shares.
MaltaPost plc shares registered a €0.06 or three per cent decline over a sole transaction of a mere 100 shares executed at €1.92. On Tuesday, MaltaPost plc announced its interim financial statements for the six-month period ending March 31, 2016. The increase in international mail services, registered mail and parcel activities boosted revenue by five per cent to €14 million. However, the company reported a profit before tax of €1.7 million – down by 34 per cent from the comparable period in 2015.
International Hotel Investments plc shares ended the week in positive territory with a 3.2 per cent gain as 10 trades of 58,068 shares were executed, closing at €0.64.
Also on a positive note, Medserv plc shares rose by 0.6 per cent across five deals of 20,400 shares, to close at €1.795.
The other non-movers this week were Grand Harbour Marina plc, Plaza Centres plc and Malta International Airport plc shares having closed unchanged at €0.90, €1.08 and €4.37 respectively.
GO plc shares strengthened by €0.05 or 1.4 per cent over 12 trades of 22,478 shares, to close at €3.55. This followed the company’s interim directors’ statement announcement, outlining the transformations in the GO group. It was also reported that potential investors for the company’s on-going sales process have submitted a number of binding offers which are currently being evaluated. The preferred bidder will be selected later this month.
MIDI plc shares slipped by 2.6 per cent as 16,100 shares were dealt, closing at €0.38. On Thursday, the company announced that during its AGM all of the resolutions on the agenda were approved, including the payment of a net dividend of €0.007 per share payable by May 27.
Mapfre Middlesea plc shares registered a 0.4 per cent decline over a single deal of a scant 500 shares, to close at €2.24 while Malita Investments plc shares edged 0.1 per cent higher across four trades of 19,000 shares, closing at €0.90.
Malta Properties Company plc shares fell by three per cent as 13 transactions of 52,471 shares were negotiated, to close at €0.543. During the week, MPC issued its interim directors’ statement, reporting stable revenue streams in line with the company’s expectations and continuous efforts to redevelop the company’s commercial property portfolio, worth €54 million.
In the corporate bond market, 37 issues were active of which 16 increased in value, eight declined and 13 closed unchanged. Turnover amounted to €1.5 million. The 6% Island Hotels Group Holdings plc € 2024 was the most liquid having witnessed a turnover of €236,450, to however close 3.5 per cent lower at €111.01.
MIDI plc announced that, subject to regulatory approval, new secured bonds will be issued at par worth €50 million, redeemable in 2026 as the 7% MIDI 2016-2018 issue, denominated in EUR and GBP bond will be redeemed.
In the sovereign debt market activity was spread over 25 issues of which 14 gained ground and 11 declined as turnover totalled €5.4 million. The 4.65% MGS 2032 (I) was the best performer having appreciated by 0.3 per cent, to close at €138.92.
This article, which was compiled by Jesmond Mizzi Financial Advisors Limited, does not intend to give investment advice and the contents therein should not be construed as such.
The company is licensed to conduct investment services by the MFSA and is a member of the Malta Stock Exchange and a member of the Atlas Group.
The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article.
For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, or on Tel: 2122 4410, or e-mail info@jesmondmizzi.com.