BOV profit ahead by 13%

Yesterday, the board of directors of Bank of Valletta plc recommended the payment of a final gross dividend per share of Lm0.10. If approved at the annual general meeting, the bank would be paying a total gross dividend of Lm0.16 up from the Lm0.11 paid last year and this following an increase in profit attributable to the shareholders of 13 per cent to Lm11,711,000. The board of directors published the preliminary income statement for the year ended September 30, 2004. These show a net interest income of Lm40,898,000 (September 3: Lm35 million), profit attributable to shareholders of Lm11,711,000 (September 3: Lm10 million) and earnings per share of 21c1 (September 3: 18c7).

Meanwhile, the bank's shares continued their positive trend when they closed the week's trading at Lm4.599, up by 10c on the previous week's closing price. Trading during the week was conducted between Lm4.498 and Lm4.60. Weekly turnover amounted to 59,448 shares changing hands over 106 deals. Following the close of business yesterday, 1,000 shares at Lm4.575 were the best outstanding bids while 2,351 shares were the best offers still unsatisfied.

Trading in HSBC shares witnessed an increase of 5c during the week after Monday's trading session opened at Lm7.55, while yesterday's session closed at Lm7.60. During the week the price ranged between Lm7.60 and Lm7.55. Total turnover for the week amounted to 20,656 shares changing hands over 38 deals. At the close of the business yesterday, best bids for 80 shares at Lm7.60 and best offers for 1,100 shares at Lm7.70 remained outstanding.

Meanwhile, Maltacom shares opened trading at Lm1.535 on Monday and went on to close the week's trading yesterday at Lm1.55. Trading during the week ranged between Lm1.57 and Lm1.535, with total turnover amounting to 33,564 shares, representing 12 per cent of total turnover in equities during the week. These shares changed hands over 22 deals. Following the close of business yesterday, best bids for 1,500 shares at Lm1.55 and best offers of 1,000 shares at Lm1.56 remained outstanding.

In a company announcement issued on Monday, the board of directors of Datatrak Holdings plc published the company's financial statements for the six months period ending June 30, 2004. These show a turnover figure of Lm528,456 (June 3: Lm502 thousand); loss for the period attributable to shareholders of Lm184,494 (June 3: Lm180 thousand); and loss per share of 1c2 (June 3: loss per share of 1c1).

On Wednesday, the Global Financial Services Group plc board of directors announced the establishment of Global Group Investments Limited and Central Landmark Development Limited as their fully owned subsidiaries

The other equities which traded during the week appear below, followed by the range in which trading took place; 710 Lombard Bank shares between Lm4.17 and Lm4.10; 6,517 Middlesea Insurance plc shares between Lm2.16 and Lm2.10; 1,860 Simonds Farsons Cisk shares at Lm1.19; 44,091 International Hotels Investments shares between €0.85 and €0.81; 3,050 Plaza Centres shares between Lm0.65 and Lm0.615; 71,000 FIM Bank shares at US$0.96; 36,143 Malta International Airport shares between Lm1.12; 2,594 Datatrak shares at Lm0.28 and Lm1.07; 150 San Tumas Shareholdings plc shares at Lm0.80.

Total Malta Government Stock turnover amounted to a nominal value of Lm406,800 being traded in 68 deals over 18 different stocks. Trading over the week in corporate bonds was made up of a total value of Lm153,257.

The Malta Stock Exchange share index increased by 37.40 points or 0.012 per cent over the week and now stands at 3,052.731.

Report by Azzopardi Investment Management Limited, tel. 21 313100, fax. 21 318897