In a company announcement issued yesterday, the board of directors of Bank of Valletta plc published the interim financial statements for the six months ended March 31, 2004.
These show a net interest income of Lm18,418,000 (six months ended March 31, 2003: Lm16,492,000) and an increase of 25 per cent in profit before tax, which stands at Lm8,039,000.
In the meantime, Bank of Valletta opened the week at Lm3.36 on Monday and closed the week at Lm3.33 yesterday. A total of 22,970 shares changed hands over the week, spread over 34 deals.
Following yesterday's session, 280 shares at Lm3.25 and 1,291 shares at Lm3.33 were the best outstanding bids and offers respectively.
Trading in HSBC shares during the week took place between Lm6.85 and Lm6.80, the closing price of the week. A total of 5,015 shares changed hands over 13 deals. After yesterday's session, best bids for 100 shares at Lm6.75 stood against best offers of 700 shares at Lm6.78.
Maltacom shares opened the week at Lm1.50 on Monday and went down to close the week at Lm1.43 yesterday.
A total of 115,235 shares changed hands over the week, spread over 36 deals. As yesterday's session drew to an end, 10,000 shares at Lm1.40 and 2,595 shares at Lm1.45 were the outstanding best bids and offers respectively.
In a company announcement, Maltacom plc said it had despatched shareholders, whose name appeared in the register at the close of business on April 21, the official notice, annual report and financial statements for the year ended December 31, 2003 as well as the official form of proxy with regards to the forthcoming annual general meeting, which is to be held on May 21.
In another company announcement, the board of directors of International Hotel Investments plc announced the reopening of its five-star Corinthia Alfa Hotel in Lisbon.
The board of directors of Simonds Farsons Cisk plc published the preliminary statement of annual results for the year ended January 31, 2004. These show a turnover figure of Lm24,725,000 (year ended January 31, 2003: Lm23,592,000); group net profit amounting to Lm2,600,000 (year ended January 31, 2003: Lm1,038,000); and earnings per share of 10c1 (year ended January 31, 2003: 3c6).
The board also recommends the distribution, out of tax exempt profits, of a final net dividend of 2c5 per share, on all ordinary shares to ordinary shareholders on the register as at June 9.
An interim dividend of 0c35 per share has already been distributed to ordinary shareholders.
In another company announcement, Simonds Farsons Cisk plc stated that it has completed its due diligence exercise on the assets and liabilities of Law Quintano & Co.Ltd and has finalised the acquisition of these assets in line with the preliminary agreement announced on March 3.
Meanwhile, the board of directors of Middlesea Insurance plc published the abridged financial statements for the year ended December 31, 2003. These showed a profit figure on ordinary activities after tax of Lm1,357,658 (year ended December 31, 2002: Lm1,786,183); group net profit for the financial year of Lm1,066,185 (year ended December 31, 2002: Lm1,140,463); and earnings per share of 8c5 (year ended December 31, 2002: 9c1).
The board is recommending the payment of a dividend of 5c per share to all shareholders appearing on the register of shareholders as at close of business on May 18.
The other equities which traded during the week appear below, followed by the range in which trading took place; 3,358 Lombard Bank shares at Lm4.05; 3,539 Middlesea Insurance shares between Lm2.44 and Lm2.40; 104,957 First International Merchant Bank shares between Lm1.10 and Lm1.05; 54,200 Malta International Airport shares between Lm0.85 and Lm0.82; 1,000 GloBAl Financial Services shares at Lm1.05; and 2,000 Datatrak shares at Lm0.23.
Total Malta Government stock turnover amounted to a nominal value of Lm179,500 being traded in 35 deals over 14 different stocks. Trading over the week in corporate bonds was made up of a total value of Lm374,425.
The Malta Stock Exchange share index decreased by 50.46 points or 1.89 per cent over the week and now stands at 2,619.956.