BoV interim results

In a company announcement issued on Wednesday, Bank of Valletta plc published the interim results for the six months ended March 31. These show an operating income figure of Lm24,410,000 (six months ended March 31, 2002: Lm23,896,000), profit attributable to shareholders of Lm4,421,000 (Lm4,553,000) and earnings per share of 8c7 (9c).

Bank of Valletta shares saw 26,303 shares changing hands throughout the week, over 23 deals. Trading opened at Lm2.335 on Monday, edging up to close at Lm2.34 by the end of the week. As Friday's session drew to a close, 2,000 shares at Lm2.312 were the best outstanding bids, while best offers of 1,692 at Lm2.34 were still unsatisfied.

The average price of HSBC Bank Malta plc went down by 0.05% to Lm4.201 on Friday, when compared with the previous week's reading. Last week's trading opened at Lm4.23 on Monday, reached a high of Lm4.28 on Tuesday before going down to close at Lm4.20 on Friday. Turnover for the week amounted to 42,315 shares, which changed hands over 14 deals. Following Friday's session, best bids for 2,000 shares at Lm4.18 stood against best offers of 180 shares at Lm4.32.

Little price movement was witnessed in Maltacom shares last week, with trading opening at Lm0.92 on Monday and closing at that same price on Friday, the highest interim level reached being Lm0.93. Volumes were high, however, with 106,109 shares being traded over 33 deals; 3,000 shares at Lm0.901 and 5,000 shares at Lm0.92 were the best outstanding bids and offers after the close of business on Friday.

International Hotels Investments shares opened at Lm0.93 on Monday and went up to close at Lm0.99 on Friday, up 6.452%. This brought the share price almost level with its issue price of Lm1. There was a healthy turnover, with 35,527 shares changing hands during the week, over 22 deals. Best bids for 2,000 shares at Lm0.92 stood against best offers of 7,523 shares at Lm0.98 following Friday's trading session.

The other equities to trade during the week, followed by the range in which trading took place, were: 5,465 Middlesea Insurance shares (Lm2.365 and Lm2.40); 4,200 Simonds Farsons Cisk shares (Lm0.72); and 10,589 Global Financial Services Group shares (Lm0.17 and Lm0.20).

Trading over the week in corporate bonds was made up of a total value of Lm84,164, while total Malta Government Stock turnover over the week amounted to a nominal value of Lm345,800 being traded in 76 deals over 16 different stocks for a total value of Lm365,450. Of these a nominal value of Lm205,600 was traded in the 5.6% MGS 2007 (III), the majority of which were put-through market deals.

The Malta Stock Exchange Share Index increased by 19.013 points or 1% over the week and now stands at 1,926.754.