The MSE Equity Total Return Index lost ground, as it declined by 0.5% to 7,844.819 points. Total weekly turnover was up by circa €1 million when compared to the previous week, as it increased to €1.4 million – generated over 235 transactions. A total of 21 equities were active, eight of which headed north and 10 closed in the opposite direction.
In the telecommunication sector, GO plc shares jumped by 6% following the approval of the financial statements for the year ended December 31, 2020 and on the back of a strong dividend which the board is expected to recommend during the next Annual General Meeting (AGM).
During 2020, GO generated close to €185.2 million in revenue versus €177.8 million recorded in the previous year – translating into a 4.2% increase over 2019.
Revenue from GO’s local telecommunications segment suffered a marginal decline of 0.9% compared to 2019, mainly driven by the significant drop in international roaming traffic due to travel restrictions.
All this contributed to a profit before tax of €20.9 million, which is equivalent to a 0.8% decline, when compared to the previous year’s figure.
BMIT Technologies plc approved the annual report and financial statements for the financial year ended December 31, 2020. These shall be submitted for the approval of shareholders at the forthcoming AGM, scheduled on May 26, 2021.
During the AGM, the board resolved to recommend the approval of the payment of a final dividend of €0.02922 net of taxation per share, amounting to the total sum of €5,949,055.
The final dividend for the year ended December 31, 2020 will be paid on May 28, 2021 to all shareholders who are on the shareholder’s register on April 26, 2021.
Meanwhile, RS2 Software plc lost 1.7%, as 27 deals involving 78,563 shares were executed. The equity ended the week €0.03 lower at €1.77.
Last Wednesday, Malta International Airport plc (MIA) published February’s traffic results, whereby an all-time-low dip was recorded since the airport’s re-opening to commercial flights in July 2020.
Totalling just 27,524 passenger movements, February’s traffic registered a drop of 93.5% over the same month in 2020. From among the airport’s top 10 markets, the United Kingdom registered the largest drop in passenger numbers, as a ban restricting travel between the two countries remained in place.
The equity registered a negative 3.4% movement in price, as it closed at €5.75. This was the outcome of 35 deals involving 42,466 shares. On a year-to-date basis, MIA is down by 7.3%.
In the banking sector, Bank of Valletta plc gained 1% to close at €0.91. A total of 88,470 shares changed hands over 24 deals.
Meanwhile, nine deals involving 39,113 HSBC Bank Malta plc shares dragged the price by 1.2%. The equity ended the week at €0.84.
Last Monday, Lombard Bank Malta plc announced that the board is scheduled to meet on April 22, 2021 to approve the Group’s and the Bank’s final audited accounts for the financial year ended December 31, 2020.
The board shall also consider the declaration or otherwise of a final dividend to be recommended to the AGM subject to regulatory guidelines and approvals. The AGM shall be held remotely on May 28, 2021.
No trading activity was recorded during the week.
During 2020, GO generated close to €185.2 million in revenue versus €177.8 million recorded in the previous year
The board of Malita Investments plc approved the financial statements for the period ended December 31, 2020 and resolved that they be submitted for approval of the shareholders at the forthcoming AGM, to be held on May 11, 2021. Shareholders listed on the register on April 11, 2021 will receive notice of the AGM.
The equity was up by 2.3%, as 37,999 shares changed hands across five deals, to end the week at €0.90.
One transaction of 20,000 MIDI plc shares dragged the price 3.8% lower to €0.41. Meanwhile, one deal of 500 shares in Santumas Shareholdings plc left no impact on the previous week’s closing price of €1.39.
Malta Properties Company plc declined by 6.3% to €0.525, as 1,351 shares were spread over four deals. From a year-to-date perspective, the equity is up by 5%.
Last Thursday, Tigne’ Mall plc announced that in view of the current Covid-19 restrictions, the majority of tenancies at the shopping mall shall be closed for one month, until April 11, 2021. This closure is yet again, expected to have a negative impact on revenue.
The equity was not active during the week.
Main Street Complex plc was active but closed unchanged at €0.498. Four deals involving 24,000 shares were executed.
Yesterday, Plaza Centres plc announced that due to the imposed restrictions, the majority of shops are now closed. The Food Hall and other food outlets are open for takeaways and deliveries. This new closure is expected to have a negative impact on the company’s revenue generation.
The equity was active last Wednesday as 10,500 shares were executed over three deals. As a result, the price declined by 3.3% to an eight-month-low of €0.88.
A sole deal of 800 International Hotel Investments plc shares resulted into a negative 3.3% change in price. The equity closed at €0.58.
Retail conglomerate, PG plc, was down by 2% to €2.00, equivalent to a €0.04 decline.
This was the result of 13 deals involving 45,600 shares. On a similar note, Simonds Farsons Cisk plc traded twice over 1,908 shares, to close 2.5% lower at €7.90.
Harvest Technology plc ended the week 2.1% higher at €1.47, as 7,950 shares changed ownership across five transactions.
Four deals involving 3,477 MaltaPost plc shares dragged the price by 0.9% into the red. The equity was trading at a weekly high of €1.22 last Wednesday, but declined to €1.15 until end of week.
Mapfre Middlesea plc traded three times over 6,299 shares, pushing the price 0.9% higher to €2.24. Similarly, Grand Harbour Marina plc closed 1.5% higher at €0.66, as 6,000 shares changed hands across three transactions.
The best performance was recorded by Loqus Holdings plc with an 80% spike in price to €0.09. Two deals involving 9,430 shares were executed.
Mederv plc was active on a sole deal of 200 shares and closed unchanged at €0.63.
The MSE MGS Total Return Index lost 0.02%, as it reached 1,124.37 points.
A total of 19 issues were active, 10 of which registered gains while another seven closed in the red. The 1.00% MGS 2035 (II) headed the list of gainers, as it closed 2.9% higher at €105.00.
Conversely, the 4.5% MGS 2028 (II) closed at €133.56, equivalent to a 3.2% decline.
The MSE Corporate Bonds Total Return Index declined by a further 0.1% to 1,098.99 points. Out of 47 active issues, 19 advanced while another 14 traded lower.
The top performer was the 4.5% Grand Harbour Marina plc Unsecured 2027, as it ended the week 3% higher at €104. On the other hand, the 4% MIDI plc Secured € 2026 lost 2%, ending the week at €100.01.
In the Prospects MTF market, six issues were active. The 5.5% IG Finance plc € Unsecured 2024-2027 was the most active, as it generated a total weekly turnover of €67,300.
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 email info@jesmondmizzi.com.