The MSE Equity Total Return Index fell by a minimal 0.006 per cent, closing at 8,721.69 points as turnover totalled €1.24 million – up from €1.05 million as turnover was spread across 18 equities of which six advanced and five fell.
Malta International Airport plc (MIA) shares made headlines last week, as the local airport operator reported positive interim results, which lead to a record closing price of €5.20. The equity witnessed 13 trades of 64,626 shares and rallied by 3 per cent.
MIA published its interim financial statements for the first half of 2018 last Thursday.
The company saw a 16.3 per cent increase in passenger movements compared to the same period last year, after recording double digit-growth during each month of the period.
This stemmed from an enhanced winter schedule, and the launch of a summer schedule offering more than 100 destinations, which led to a 14.5 per cent growth in quarter two.
This positive performance translated to an increase in revenue of 11.5 per cent, to reach €40.9 million in 2018. Other operating costs increased by just 5 per cent, while staff costs were up 14.8 per cent.
As a result, net profit improved by 18.3 per cent to €13 million. The group is also benefitting from 65.2 per cent lower interest expenses, following the settlement of €33 million worth of outstanding loan balances.
The group is proposing a net dividend of €0.03 per share to be paid by no later than September 14, 2018 to all shareholders on the register as at August22, 2018.
Bank of Valletta plc shares were the most liquid, having witnessed a turnover of 210,766 shares spread over 52 trades.
The banking equity added to the previous week’s 2 per cent loss, having closed 1.5 per cent lower as it oscillated between a weekly high of €1.75 and an 11-week low of €1.70 – at which it closed. The board of directors of the bank is scheduled to meet on Tuesday, to consider and approve the group’s and the bank’s interim financial statements for the first half of 2018.
HSBC Bank Malta plc shares partially erased the previous week’s 1.6 per cent gain, having declined by 0.5 per cent as 20 transactions of 71,384 shares were executed, closing at €1.87.
Meanwhile, Lombard Bank Malta plc shares traded unchanged at €2.30 on one transaction of 400 shares.
The investments and insurance services provider, Mapfre Middlesea plc recorded a 1.5 per cent drop in its share price, partially reversing the previous week’s 4.7 per cent advancement.
The equity witnessed three deals of 3,901 shares and closed €0.03 lower at €1.96.
In the same sector, GlobalCapital plc shares traded unchanged at €0.30 on two deals of 440 shares.
Simonds Farsons Cisk plc (SFC) registers an increase in its share price for the sixth consecutive week
The food and beverage supplier Simonds Farsons Cisk plc (SFC) registered an increase in its share price for the sixth consecutive week, having appreciated by €0.20 or 2.7 per cent as 19,828 shares changed ownership over 10 deals, to close at a 25-week high of €7.50.
SFC’s spin-off Trident Estates plc shares advanced by 1.5 per cent across four transactions of 12,679 shares, closing at €1.32.
Meanwhile, Malita Investments plc shares closed unchanged at €0.87 as 143,379 shares were exchanged over nine trades.
The board of the company is scheduled to meet on August 10, 2018 to consider and approve the company’s interim financial statements for the first six months of 2018. The board will also consider the payment of an interim dividend.
Malta Properties Company plc shares registered a 2.1 per cent increase, after having closed in the red for three consecutive weeks. The equity was negotiated across two transactions of 12,865 shares and closed at €0.49.
The board of the company shall be meeting on Wednesday, to discuss the group’s interim unaudited financial statements for the six-month period up to June 2018.
Plaza Centres plc shares traded flat at €1.04 on one deal of 1,000 shares. Last Tuesday, the board of the shopping mall owner approved the interim financial statements for the period ended June 30, 2018.
The group saw an increase in revenue of 5.54 per cent to reach €1.56 million while EBITDA increased by 1.21 per cent, due to higher administrative costs, a higher contribution to marketing and maintenance costs, given the lower occupancy levels.
Occupancy levels are temporarily lower due to the refurbishment of the Tigne Place offices, but it is expected to improve once the renovation is ready during the last quarter.
The group’s earnings were also impacted by a higher depreciation charge and lower income from investment. As a result, profit before tax decreased by 7.26 per cent over the previous period to €740,823.
Tigne Mall plc shares closed unchanged at €0.95 for the second consecutive week as 8,570 shares changed hands over five trades. The board of the company shall be meeting on Friday, to consider and approve the condensed interim financial statements for the half-year ending June 2018, as well as to consider the declaration of an interim dividend.
GO plc shares managed to partially recoup the previous week’s 1.2 per cent loss, having increased by 0.6 per cent.
The telecommunications services provider’s shares were active on six transactions of 15,809 shares and closed at €3.42.
International Hotel Investments plc shares partially erased the previous week’s 4.1 per cent gain, having slipped by 0.8 per cent over three deals of 6,000 shares, closing at €0.63.
RS2 Software plc shares increased by 0.8 per cent as 2,010 shares changed hands over six transactions, to close at €1.21.
The oil and gas logistics services provider Medserv plc registered a 1.7 per cent decline in its share price as one deal of 2,100 shares was negotiated, closing at €1.13.
The board of the company is scheduled to meet on August 27, 2018, to consider, and if thought fit, approve the unaudited half-yearly report for the six-month period ending June 30, 2018.
MaltaPost plc shares traded flat at €1.65 on one transaction of 1,329 shares.
The retail and supermarkets owner PG plc closed unchanged at €1.33 for the fourth consecutive week. The equity was negotiated across eight trades of 30,300 shares.
In the corporate bond market 41 issues were active of which 17 appreciated and 16 fell. Turnover remained stable at €2 million.
The 3.85% Hili Finance plc Unsecured Bonds 2028 headed the list of gainers, having increased by 2 per cent, to close at €102, while the 4.5%Grand Harbour Marina plc Unsecured € 2027 was the worst performer, having declined by 3.2 per cent, closing at €101.35.
In the sovereign debt market turnover increased to €12.9 million, from the previous week’s €1.7 million as activity was spread over 23 issues, all of which fell, as losses ranged from 0.01 per cent to 4.26 per cent. The 3.2% MGS 2019 (V) suffered the highest loss, having declined by 4.3 per cent, to close at €103.31.
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 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 on Tel: 21224410, or email info@jesmondmizzi.com.