The MSE Equity Total Return Index partially erased the previous week’s 0.665% gain, having slipped by a minimal 0.166%, to close at 8,648.238 points, as turnover increased to €1.7 million from €1.32 million. Activity was spread across 19 equities of which ten fell and six gained ground.
Meanwhile, global equities continued to regain lost ground as jobs data in the US indicated that the economy continued to strengthen without the rapid wage gains registered in previous months, which raised inflation concerns. Also, the easing of political tensions helped to offset the concerns of future trade wars.
Locally, various companies issued their financial results last week. Malita Investments plc (Malita) announced that profit for the year had more than doubled between 2016 and 2017, from €6.4 million to €13 million.
This increase was largely due to a positive change in fair value of investment property of €16.7 million, which figure stood at €3 million in the previous year.
As a result, earnings per share also doubled from €0.0434 in 2016, to €0.0877 in 2017. Subject to approval at the Annual General Meeting (AGM), a net dividend of €0.01853 per share shall be paid on May 4, 2018, to all shareholders on the register as at March 28.
The property management company Malita registered a 2.4% increase in its share price – adding to the previous week’s 0.6% gain, to close at €0.855.
The equity witnessed 30 trades of 520,123 shares.
In the same sector, MIDI plc shares fell by 1.8% as two transactions of 36,100 shares were executed, closing at €0.334.
On the other hand, Malta Properties Company plc shares closed 3.75% higher at €0.498 as 33,565 shares changed hands across seven transactions.
Plaza Centres plc shares partially erased the previous week’s 5% gain, having declined by 3.8%. The shopping mall owner’s shares were executed across eight deals of 52,710 shares, to close €0.04 lower at €1.02.
Likewise, Tigne Mall plc shares closed 1% lower at €1.00 on one transaction of 10,000 shares.
Bank of Valletta plc shares closed unchanged at €1.83, despite having reached a weekly low of €1.815.
The banking equity was active on 58 deals of 170,777 shares.
HSBC Bank Malta plc shares partially reversed the previous week’s 3.2% increase, having slipped by 1% as 161,382 shares changed ownership over 34 trades, closing at €1.94. As of tomorrow investors buying HSBC shares will not be entitled to the final dividend declared recently.
FIMBank plc shares registered a decrease in its share price for the third consecutive week having declined by 0.8% across five transactions of 28,124 shares, to close at $0.605.
Lombard Bank Malta plc (Lombard) shares traded unchanged at €2.40 on one deal of 1,500 shares.
The bank announced a rise in the group’s profit after tax of 7%, from €5.3 million to €5.7 million. Subsequently, earnings per share also increased to €0.116 from €0.107. Net interest income rose by 9% to €15.43 million, as a result of increased consumer lending and the bank’s treasury activity. A net dividend of €0.026 per share will be distributed on May 4, 2018, to all shareholders on the register of shareholders as at March 27, 2018.
MaltaPost plc shares extended the previous week’s 2.1% loss having slipped by a marginal 0.5% over one trade of 807 shares, closing at €1.90.
Mapfre Middlesea plc shares oscillated between a weekly high of €1.89 and a low of €1.80, to ultimately close 0.5% lower at €1.84. The insurance and investments services provider’s shares were active on 10 trades of 33,414 shares.
Last Friday, the company announced that the group’s profit after tax for 2017 reached €13.52 million, translating to a considerable 34% increase over the previous year’s figure of €8.9 million.
The company registered a 3.2% increase in turnover over the previous year, to reach €61.94 million in gross premium.
Although investment income was marginally lower than the previous year, it was driven by improved property rental income and fair value movements, particularly on property investments.
The board recommended the payment of a final net dividend of €0.10543 per share, to be paid on May 18, 2018 to shareholders on the company’s share register as at April 27, 2018.
Malta International Airport plc shares advanced by €0.04 or 0.8% as 11 deals of 14,964 shares were executed, closing at €4.94.
The Airports Council International announced that the airport has claimed the second place in Europe in its Airport Service Quality awards.
Last Thursday, the local airport operator published its traffic results for February showing positive changes in passenger movements as traffic for the month grew by a significant 18% over the previous year.
Simonds Farsons Cisk plc (SFC) shares closed unchanged despite having reached a weekly high of €7.10.
The food and beverage supplier’s shares were negotiated across five trades of 1,470 shares. SFC’s spin-off Trident Estates plc recorded a decrease in its share price for the third consecutive week, having declined by 4.2% as 10,413 shares changed ownership over seven deals, to close €0.08 lower at €1.82.
GO plc shares appreciated by €0.06 or 1.7% as 41,840 shares were executed across 14 transactions, closing at €3.60 – a one-month high.
The telecommunications services provider published its preliminary results last Tuesday, showing a reduction in profit for the group for 2017 of 11%, from €20.3 million to €18 million.
Consequently, earnings per share experienced a similar drop of 10.3% to €0.165.
The board resolved to recommend a final net dividend of €0.13 net of taxation per share, to be paid on May, 16 2018 to all shareholders on the company’s register as at April 13, 2018.
The company also announced that the AGM will be held on May 14, 2018.
RS2 Software plc shares halted its on-going losing streak, having advanced by 1.6% as 27 trades of 85,453 shares were concluded, to close at €1.30.
International Hotel Investments plc (IHI) shares partially erased the previous week’s 4.1% gain, having declined by 1.6% across four transactions of 9,050 shares, to close at €0.62.
The supermarkets and retail owner PG plc shares fully reversed the previous week’s 1.5% fall, having advanced by 1.5% as 27,900 shares changed ownership on one trade, closing at €1.35.
Medserv plc shares failed to stay faithful to the previous week’s 8 per cent rally, having declined by 5%, to close €0.06 lower at €1.15.
The oil and gas logistics services provider’s shares were active on three deals of 16,000 shares.
In the corporate bond market 35 issues were active of which 12 gained ground and 10 fell, as turnover fell to €1.3 million from €1.4 million.
Meanwhile, in the sovereign debt market turnover fell from €4.1 million to €2.5 million and was spread across 20 issues of which 12 increased and six lost ground.
This article, 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: 21224410, or email info@jesmondmizzi.com.
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