In a company announcement on Tuesday, the board of directors of Lombard Bank Malta plc, published the profit statement for the year, which ended December 31.
These show a net interest income of Lm4,777,000 (December 2004: Lm3.7 million); operating income of Lm5,628,000 (December 2004: Lm4.6 million); profit attributable to shareholders of Lm2,363,000 (December 2004: Lm1.6 million) and earnings per share of 56c6 (December 2004: 38c). A gross final dividend of 20c per share is being proposed and if approved, will be paid to shareholders on the register of members on March 13. The board will also be recommending that shareholders be given the option of receiving the dividend either in cash or by the issue of new shares.
Further to Lombard Bank's announcement on Tuesday, the company announced on Thursday that the net dividend being proposed by the company amounts to 13c per ordinary share. The dividend will be payable on May 15 and the attribution price in the case of the scrip dividend will be Lm8.37,4 per share.
Meanwhile, the price of Lombard Bank shares increased by 12.44 per cent during the week. Trading opened the week at Lm10.45 on Monday and went on to close at Lm11.75 yesterday. Total turnover amounted to 6,953 shares changing hands over 22 deals. As yesterday's session drew to a close, 700 shares at Lm11.50 and 330 shares at Lm11.80 were the best unsatisfied bids and offers respectively.
Bank of Valletta shares opened the week at Lm4.24,9 and gained 21c1 during the week to end yesterday's session at Lm4.46. Total turnover amounted to 243,960 shares changing hands over 345 deals. During the week, the price of the equity ranged between Lm4.10 and Lm4.65. At the end of yesterday's session, bids for 814 shares at Lm4.45 and offers of 200 shares at Lm4.47 made up the best unsatisfied closing positions.
HSBC's solid performance continued this week, with further gains being registered in the share's price. Opening at Lm9.80,1 on Monday, trading in the equity went up by Lm1.04,9 during the week to close yesterday's session at Lm10.85. During the week, the price of this equity ranged between Lm9.80 and Lm11. Total turnover for the week amounted to 142,211 shares bringing the total volume of shares transacted in HSBC to Lm1,502,439.
These shares changed hands in 530 deals. Best bids for 1,656 shares at Lm10.75 and best offers of 450 shares at Lm10.85 remained outstanding at the close of business yesterday.
An increase of 15c was registered over the week in Maltacom's share price, as trading in the equity opened at Lm1.98 on Monday and closed at Lm2.13 yesterday. During the current trading week, the price of the equity ranged between a weekly low of Lm1.97,9 and a weekly high of Lm2.14,9. A total of 131,476 shares changed hands during the week spread over 141 deals. Following the close of business yesterday, best bids for 1,325 shares at Lm2.06 and best offers of 2,315 shares at Lm2.13 remained outstanding.
Middlesea Insurance shares traded between Lm4.74,9 and Lm5.30 during the week, with the former being the opening price on Monday, while the latter was the closing level yesterday; this also being the all-time high price ever recorded by the company.
This represented an increase of 55c (11.6 per cent) on the previous week's closing price of Lm4.75. In total, 8,297 shares changed hands during this week, spread over 16 deals. Following the end of yesterday's session, best bids for 493 shares at Lm5.30 remained unsatisfied. There were no offers outstanding.
On Tuesday, Malta International Airport plc announced that it has been informed that VIE (Malta) Limited has acquired further shares in the company with settlement date last Wednesday. Accordingly as from last Wednesday, VIE (Malta) Limited started holding 10.1 per cent of the total issued share capital of the company.
In a company announcement issued on Tuesday, Global Financial Services Group plc announced that the board of directors is scheduled to meet on March 24 to consider and approve the company's financial statements for the year which ended December 31. During this meeting the board is also expected to consider and decide on the recommendation of a dividend to the company's shareholders at the forthcoming annual general meeting.
The other equities which traded during the week, followed by the range in which trading took place, are: 10,824 Simonds Farsons Cisk shares between 86c and 88c9; 40,887 International Hotels Investment shares between €0.90 and €0.95; 6,134 Plaza Centres shares between 69c and 69c1; 730,597 FIMBank shares between US$2.186 and US$2.49; 175,849 Malta International Airport shares between Lm1.50 and Lm1.60; 14,933 Global Financial Services shares between Lm1.30 and Lm1.49,8; 5,558 Datatrak shares at 30c and 500 San Tumas Shareholdings plc shares at Lm1.05.
Total Malta Government Stock turnover amounted to a nominal value of Lm463,500 being traded in 85 deals over 25 different stocks. Trading over the week in corporate bonds was made up of a total value of Lm120,576.
The Malta Stock Exchange Share Index increased by 372.24 points or 6.4 per cent over the week and now stands at 6,184.635.
Azzopardi Investment Management Limited is licensed by the MFSA to provide investment services, including stockbroking. The directors or related parties, including the company, and their clients, are likely to have an interest in securities mentioned. This article is only meant to provide information and is not intended to give investment advice. The value of securities, and the currencies in which they are denominated, may go down as well as up.
Report by Azzopardi Investment Management Limited, tel. 2131 3100, fax. 2131 8897 www.azzopardi.com