The share price of Simonds Farsons Cisk plc advanced by 2.3% during this morning's trading session to close at €1.99,5 on a single trade of 1,180 shares.
Few other shares remain on offer at this level with a further 1,500 shares at €2. The equity of Farsons gained 12.7% since the publication of the January full-year results published on April 25.
The group announced an increase of 26.1% in profit after tax to a record €4.7 million (2011: €3.7 million) and the board of directors proposed a record final net dividend 5c67 per share payable on June 21.
In a media interview published today, CEO Norman Aquilina explained the consistent growth being registered in exports of the group's products, particularly of Cisk and Kinnie.
Mr Aquilina noted that Farsons aimed to continue growing in the local market and seek additional brand representation opportunities while the Group aimed to focus more specifically on the export market.
The only other positive performer of the day was Go plc with a minimal increase to 90c. The gains registered in Farsons and Go helped the MSE Share Index remain above the 3,000-points level.
During May, the local equity benchmark advanced by 2%, led by the significant upturn in Crimsonwing (+87.5%) coupled with positive performances from Go (+20%), International Hotel Investments (+9.8%) and Simonds Farsons Cisk (+9%).
In the banking sector, only two equities were active with Bank of Valletta plc maintaining the €2.08 level on subdued volumes of 4,830 shares and FIMBank plc also closing unchanged at USD0.85 level on activity of 16,724 shares.
Meanwhile, the share price of RS2 Software plc shed 1.9% to 51c on volumes of 29,000 shares. The company is scheduled to hold its annual general meeting on June 12 during which shareholders will be asked to approve a number of resolutions including the 1 for 15 bonus share issue and an increase in the authorised share capital of the company.
On the local bond market, the Rizzo Farrugia MGS index continued to rise closing at 989.953 points as the Central Bank of Malta adjusted the bid prices upwards reflecting the continued downturn in Eurozone 10-year yields to fresh lows of 1.233% as investors continued to seek safer investments in the light of the ongoing European debt crisis.
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