Almost 230,000 MaltaPost plc shares traded during today’s session on the Borza. A large trade of 218,459 shares was transacted at the €0.80 level and with no further supply at this level, the share price climbed to a fresh 2010 high of €0.82, representing a gain of 1.9% on the day. Since the start of the year, a total of 1.96 million shares changed hands on the market. On 13 May the postal operator will be published its financial results for the six months ended 31 March 2010. In the other equities, low volumes of shares were transacted. Bank of Valletta plc, International Hotel Investments plc and Lombard Bank Malta plc all closed higher while the share price of HSBC Bank Malta plc slumped 1.3% lower to €3.05.
Overview of the week
The MSE Share Index eased minimally lower this week and failed to surpass the 3,500-point level. The best performing equity this week is MaltaPost plc with a 2.5% increase with mixed performances in the two large banks. BOV’s share price edged 0.9% higher to €3.33 ahead of next Friday’s half-year results publication while HSBC shed 1%. However the worst performer was Loqus Holdings plc (formerly Datatrak) as its share price slumped 37.5% from the 2010 high of €0.32 to the €0.20 level.
Simonds Farsons Cisk plc this week informed its shareholders and bondholders that they will be given preferential allocation in the upcoming bond issue. The Farsons Group had submitted an application to issue a €15 million bond maturing between 2017 and 2020. The proceeds from the bond issue will be utilised to fund the redemption of the existing €9.3 million 6.6% Bonds and part finance the Group’s €14 million investment in a new brewhouse and water treatment plant.
On the IT front 6pm Holdings plc and RS2 Software plc issued their respective 2009 full-year results this week. 6pm reported an improvement in profitability as cost savings outweighed lost revenue. Meanwhile RS2 registered a drop in profits as turnover shrunk due to a change in the revenue mix and a reduction in business activity as clients postponed their spending in the light of the challenging economic conditions of 2009. The results failed to generate any trades in both equities.
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