MIA projects net profit of over €28 million in 2018

The MSE Equity Total Return Index slipped marginally by 0.22 per cent closing at 8,631.649 points as turnover totalled €1.3 million – up from the previous week’s €1.1 million.

Activity was spread across 17 equities of which nine fell and five advanced.

After the market closed last Friday, Malta International Airport plc (MIA) announced its traffic forecast for 2018, reported that it expects to register further growth in the coming year to reach the figure of 6.5 million passengers.

In a press conference, the company also announced that during 2017, an upturn of 17.5 per cent in passenger movement was recorded.

The seat load factor for the year remained at a healthy 82.4 per cent, in line with the European trend. The airport also revealed that more than 16 new routes will feature in 2018.

This year will be busy for the company in terms of infrastructure developments, particularly the Terminal Reconfiguration Project. Furthermore, another €8.8 million shall be invested in the airport infrastructure.

The CEO presented the financial targets for the year, including total revenue which is expected to reach over €87 million and net profit projected to over €28 million.

MIA shares appreciated by €0.10 or 2.1 per cent over the week on 11 deals of 15,039 shares, to close yet again at its record high of €4.80.

Bank of Valletta plc shares increased by 1.1 per cent across the highest turnover of the week once again, as 421,051 shares changed hands over 129 trades.

The equity oscillated between a weekly high of €1.83 and a low of €1.78, to ultimately close at €1.82.

HSBC Bank Malta plc shares closed unchanged at €1.76 as 35 deals of 88,304 shares were active.  Likewise, FIMBank plc shares traded flat at $0.69 on two transactions of 8,500 shares.

The insurance and investments services provider Mapfre Middlesea plc registered a 1.1 per cent increase in its share price – extending the previous week’s gain of 2.1 per cent, to close at €1.84. The equity was active on five trades of 10,610 shares.

In the property management sector, Malita Investments plc shares were the only positive performers having recouped by 1.2 per cent from the previous week’s 0.6 per cent loss.

The equity witnessed five deals of 42,200 shares, closing at €0.825.

Malta Properties Company plc shares added on to the previous week’s hefty loss of 8.3 per cent, having edged by 1.4 per cent across six transactions of 41,404 shares, to close at €0.434.

In the same sector, MIDI plc shares slipped by 2.9 per cent as six trades of 307,050 shares were executed, closing at €0.34. Meanwhile, Plaza Centres plc shares fell by 0.9 per cent on one trade of 1,000 shares, to close at €1.10.

The telecommunications services provider GO plc registered a 1.1 per cent loss in its share price as 8,335 shares changed ownership across eight deals, to close €0.04 lower at €3.52.

Last Friday, GO announced that following its decision not to participate in the convertible bond loan issued by Forthnet S.A. on October 11, 2016 the company’s percentage shareholding in Forthnet has declined.

GO plc now directly holds 15.19 per cent of Forthnet’s issued share capital, as opposed to the 22.605 per cent which it owned prior to the convertible bond loan. The company has informed both Forthnet and the Hellenic Capital Market commission about this change which resulted from an increase in the issued share capital of Forthnet.

Simonds Farsons Cisk plc shares added on to the previous week’s minimal 0.2 per cent decline having slipped by 5.3 per cent.

The food and beverage supplier’s shares witnessed four trades of 1,598 shares and closed €0.45 lower at €8.05.

Shareholders of the company who have received the Share Transfer Agreement in respect of the transfer of shares in Trident Estate plc by Simonds Farsons Cisk plc, are reminded to return the said signed agreement to the registered office of the company by not later than January 19, 2018, after seeking professional investment advice.

The seat load factor for the year remained at a healthy 82.4 per cent

International Hotel Investments plc (IHI) shares decreased by 3.9 per cent as 31,605 shares changed hands over six transactions, closing at a seven-week low of €0.615.

The share price of Medserv plc, the oil and gas logistics services provider, managed to recoup 0.9 per cent from its previous week’s 8.7 per cent loss in its share price.

The equity was active on two deals of 5,870 shares, to close at €1.16.

MaltaPost plc shares declined by €0.08 or 3.8 per cent over one trade of 687 shares, closing at €2.04.

The supermarkets and retail owner PG plc registered no change in its €1.40 share price as nine deals of 30,170 shares were negotiated.

RS2 Software plc shares added to the previous week’s 0.7 per cent loss, having slipped by 2.6% as six trades of 16,289 shares were struck, closing €0.04 lower at €1.49.

Loqus Holdings plc shares were the worst performers having dropped by 14.3 per cent over three deals of 18,900 shares.

The equity closed at €0.15.

In the corporate bond market activity was spread across 31 issues of which nine gained ground and 14 fell as turnover totalled €1.2 million.

The 3.75% Virtu Finance plc Unsecured € 2027 was the most liquid issue having witnessed nine trades worth €192,176. The bond closed the week unchanged at €103.

The 4% IHI Unsecured € 2026 registered the best performance having advanced by 1% on one trade worth €13,000, closing at €103.

Meanwhile, the 5.75% IHI Unsecured € 2025 headed the list of fallers having declined by 2.6%, to close at €104.70. The bond witnessed five deals worth €25,369.

In the sovereign debt market turnover amounted to €1.6 million. A total of 19 issues were active of which six increased, 12 declined and the 2.4% MGS 2041 (I) r closed unchanged at €104.55.

The long-dated MGS was active on five trades worth €47,047.

The 2.1% MGS 2039 (I) was the most traded issue as 17 deals worth €317,923 were struck, to close 1 per cent higher at €102 – marking the best performance for the week. Meanwhile, the 4.45% MGS 2032 (II) was the worst performer having slipped by 2.5 per cent, closing at €133.88.

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 phone 21224410.

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