Movements in equity and bond indices
The MSE Equity Total Return Index remained in positive territory, closing 0.3% higher at 8,467.928 points. A total of 27 issues were active, as nine headed north while another 13 closed in the opposite direction. The total weekly turnover of €0.6m was generated across 160 transactions.
The MSE Corporate Bonds Total Return Index registered a marginal 0.04% gain, as it closed at 1,180.073 points. A total of 73 issues were active, 35 of which traded higher while another 14 lost ground. The 5% Mariner Finance plc Unsecured € 2032 was the best performer, as it closed 3.8% higher at €105.85. On the other hand, the 4% SP Finance plc Secured € 2029 ended the week 4.5% lower at €95.
The MSE MGS Total Return Index declined marginally by 0.1%, as it reached 925.150 points. Out of 22 active issues, 15 advanced while another six closed in the red. The 1% MGS 2035 headed the list of gainers, as it closed at €78.45, equivalent to a positive 3.9% change. Conversely, the 3% MGS 2040 closed 2% lower at €92.10.
Top 10 market movements
International Hotel Investments plc (IHI) was active yesterday at the €0.42 price level, until a last-minute deal pushed the share price to €0.45. This translated to a gain of 9.8%, making IHI the best weekly performer. Three trades of 25,000 shares were executed. Malta International Airport plc (MIA) registered a third consecutive weekly gain, advancing by 2.6% to close at €6. MIA was the most liquid equity, as 37,282 shares exchanged hands across 23 deals generating €222,730 in turnover.
In the banking sector, HSBC Bank Malta plc shares lost 3.5%, closing at a weekly low of €1.64. Trading volume declined to 12,192 shares exchanged over four trades, generating a total turnover of €20,114.88.
Bank of Valletta plc registered a slight decline of 0.6%, closing at a weekly high of €1.64. A total of 39 trades worth €148,446 were executed.
The share price of APS Bank plc increased by 4.8%, ending the week at €0.505. The equity traded at a weekly high of €0.52 and a weekly low of €0.49. A total of 35,294 shares worth €17,762, exchanged hands across seven deals.
Lombard Bank Malta plc registered a negative 3.8% movement in its share price, finishing the week at €0.76. This was the result of a sole deal involving 1,900 shares.
GO plc enjoyed a positive week, as it gained 1.4% to close at €3. A total of 18 transactions involving 27,215 shares were executed, generating a turnover of €80,729.
PG plc joined the list of positive movers, with its share price advancing by 6.1% to close at €1.91. The equity traded at a weekly high of €1.91 and a low of €1.81. Trading activity was moderate, with six trades taking place, involving a volume of 5,800 shares and a total value of €10,986.
VBL plc recorded an 11.5% drop in its share price to close at €0.20. This was the outcome of a sole deal worth €400.
RS2 Software plc witnessed a decline of 3.2% to close at €0.75. Two deals involving 10,500 shares were recorded.
Announcements
The board of GO plc announced that is has approved the group’s interim unaudited financial statements for the six-month period ended June 30, 2024. The group’s revenue decreased by €6.9m to €113.5m compared to the same period in 2023.
During the first half of 2024, the group’s cost of sales declined by 9% to €71.4m. The decrease was mainly driven by the drop in hardware sales of mobile devices, telecoms equipment and specialised technical solutions for enterprises.
Gross margin increased to 37.1%, up from 35.1% in 2023, in line with the group’s strategy to focus on higher margin revenues. Net profit for the period increased marginally to €9.4m. The board also resolved to pay an interim net dividend of €0.05 per share.
BMIT Technologies plc announced that during the first half of the year, the company’s total revenue increase by 12.8% to €16.7m when compared to the previous year. The increase in annual revenue was attributed to the tower operations, following the start of revenue recognition from the fees received from GO plc. Profit for the period declined by 16% to €2.2m, down from €2.6m last year.
Malta Properties Company plc posted a profit after tax of €1.2m for the six-month period ended June 30, 2024. During the period, the group’s rental income increased by 19% when compared to the same period last year. The main contributors for this increase were the new rental income from the ‘The Exchange’ in Marsa as well as the new rental income from ‘Mediterranean Building’ in Ta’ Xbiex.
The board of VBL plc is scheduled to meet on August 21, 2024, to consider and approve the company’s interim accounts for the half-year period ended June 30, 2024.
The board of Malita Investments plc is scheduled to meet on August 28, 2024, to consider and approve the company’s audited interim financial statements for the six-month period ended June 30, 2024, and to consider the payment of an interim dividend.
Santumas Shareholdings plc announced that the forthcoming annual general meeting will be held on Wednesday October 23, 2024.
The board of Harvest Technologies plc approved the company’s interim financial statement for the six-month period ended June 30, 2024. At group level, profits after tax increased to €608,998 from €183,225 in the previous year. The board resolved to distribute an interim net dividend of €683,419, equivalent to €0.03 per share.
The board of PG plc announced that it shall be meeting on August 27, 2024, to consider and approve its annual report and the audited financial statement for the year ended April 30, 2024.
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 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, tel: 2122 4410, or e-mail info@jesmondmizzi.com.