Activity in the local equity market was spread across 22 equities of which 12 declined and five increased, resulting in a 0.691 per cent drop in the MSE Equity Total Return Index, closing at 8,479.915 points. Turnover increased to €2.9 million from the previous week’s €1.9 million.
Trident Estates plc shares registered the most significant loss of 9.1 per cent as 13,514 shares changed ownership over seven transactions, to close €0.14 lower at €1.40. The company announced the financial results for the year ended January 31, 2018. Trident generated a profit before tax of €437,000, significantly lower than the €5.1 million registered during the previous year.
The main reason for this negative change was that fair value gains diminished from €4.7 million in the previous period, to just €165,000 this year. A significant increase from €51,000 to €461,000 in administrative expenses, mostly due to additional payroll expenses, had a negative impact on operating profit, which was down by 55 per cent to €256,000.
Revenues from rental income increased by 9.5 per cent, following the renegotiation of the lease agreements with Food Chain.
As a result, the earnings per share figure fell to €0.045.
The food and beverage supplier SFC registered a 2.2 per cent loss in its share price as nine deals of 82,455 shares were executed, closing €0.15 lower at an 18-month low of €6.55.
FIMBank plc shares partially erased the previous week’s 8.9 per cent gain, having decreased by 5.5 per cent over 11 trades of 122,339 shares, to close at $0.52.
HSBC Bank Malta plc (HSBC) shares partially reversed the previous week’s 3 per cent increase, having slipped by €0.03 or 1.7 per cent as 86,900 shares changed hands, closing at €1.71.
In the interim directors’ statement, HSBC reported a decline in profit before tax for the first three months of 2018, when compared to the first quarter of 2017.
This decline was in line with management expectations, as it is a reflection of lower corporate loans and advances, lower interest rates and risk management actions.
Revenue also decreased, primarily as a result of lower revenue from the investment book and lower sales in the insurance business. Total impairment posi-tions in loan balances in the first quarter of 2018 remains well within management expecta-tions.
Loans and advances to customers slightly increased, allowing HSBC’s Commercial Banking business to build momentum to increase the loan book growth. Both retail and commericial customer deposits increased which allowedthe bank to maintain its robust liquidity position.
Bank of Valletta plc shares fell by a minimal 0.3 per cent as 58 transactions of 143,977 shares were executed, to close at €1.745.
Meanwhile, Lombard Bank Malta plc shares erased the previous week’s 0.9 per cent increase, having declined by 1.7 per cent, closing €0.04 lower at €2.30.
The insurance and investments services provider GlobalCapital plc registered a 5.9 per cent loss – partially reversing the previous week’s 6.3 per cent advance.
The equity witnessed two trades of 49,710 shares, to close at €0.32.
Mapfre Middlesea plc shares closed unchanged at €2.04 for the second consecutive week as one transaction of 590 shares was concluded.
Santumas Shareholdings plc shares partially erased the previous 33.3 per cent drop, having recouped by 4 per cent as 10,881 shares changed hands over two trades, closing €0.04 higher at €1.04.
Malta International Airport plc (MIA) shares closed unchanged at €4.96, despite having reached an 18-week high of €5 intra-week. The local airport operator’s shares were active on 33 deals of 66,322 shares. Last Friday, eligible shareholders received a final net dividend of €0.07 per share.
MIA announced that it has finalised a new collective agreement for all employee grades within the company. The agreement provides annual salary increases to its employees, totalling an accumulated growth of 17.5 per cent by the year 2022.
It was also agreed that a more efficient and flexible shift structure will be implemented, to cater for the needs of the company; and annual performance bonuses linked to enhance quality management and the attainment of the company’s strategic goals.
The telecommunications services provider GO plc shares recorded a 1.7 per cent drop in its share prices as 13 trades of 89,377 shares were executed, closing €0.06 lower at €3.42.
International Hotel Investments plc shares fully erased the previous week’s minimal 0.8 per cent loss, having recouped by 1.6 per cent as eight deals of 46,693 shares were negotiated, to close at €0.63.
In the property management sector, MIDI plc shares registered an increase for the fourth consecutive week, having appreciated by €0.058 or 15.2 per cent. The equity witnessed the highest turnover of 491,528 shares spread across 35 trades, closing at €0.44.
MIA shares close unchanged despite having reached an 18-week high
Last Thursday was the cut-off date for the final net dividend of €0.007 per share to MIDI shareholders, which will payable by not later than July 13, 2018 if approved at the Annual General Meeting scheduled on June 27, 2018.
Malta Properties Company plc shares extended their recent winning streak, having advanced by 6.8 per cent – adding on to the previous week’s 9.6 per cent rally.
The equity was active on 23 deals of 150,168 shares, closing €0.035 higher at €0.55.
In the same sector, Malita Investments plc shares partially erased the previous week’s 2.4 per cent increase, having slid by 2.3 per cent across 21 transactions of 305,624 shares, to close at €0.84.
Tigne Mall plc shares closed unchanged at €0.96, despite having reached a nine-week high of €0.98 intra-week as 164,000 shares changed hands over four deals. Meanwhile, Plaza Centres plc shares closed unchanged at €1.04 as six transactions of 61,000 shares were negotiated.
The company’s AGM is scheduled for next Wednesday.
MaltaPost plc shares decreased by €0.05 or 2.8 per cent across five trades of 8,040 shares, closing at €1.75.
RS2 Software plc shares registered a decline for the third consecutive week, having slipped by €0.04 or 3.3 per cent as 135,654 shares changed hands over 30 trades. The IT services provider’s shares oscillated between a weekly high of €1.20 and a 59-month low of €1.10, to ultimately close at €1.17.
The supermarkets and retail owner PG plc recorded a 3 per cent loss in its share price – fully erasing the previous week’s 0.8 per cent increase. The equity witnessed 10 deals of 96,200 shares and closed €0.04 lower at €1.28.
Medserv plc shares increased by 1.8 per cent across six transactions of 51,000 shares, closing at €1.12. The oil and gas logistics services operator’s AGM is scheduled for May 28, 2018.
In the corporate bond market turnover increased to €1.9 million from the previous week’s €1.7 million. Activity was spread across 42 issues of which 20 gained ground and 10 fell. The 4.5% Izola Bank plc € Unsecured 2025 was active for the first time this month, registering a 1.9 per cent increase as one deal worth €16,050 was concluded, closing at €107.
In the sovereign debt market 24 issues were active of which 19 declined and five advanced.
Turnover increased to €4.4 million from €1.8 million. The 2.1% MGS 2039 (I) was the most liquid issue having witnessed a turnover of €1.5 million, to close 0.4 per cent lower at €100.75.
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.
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