The MSE Equity Price Index climbed by 0.27% to 3,879.842 points on Tuesday as gains in GO and Trident outweighed the decline in Santumas. Meanwhile, IHI, Maltapost and PG closed unchanged as overall trading activity improved marginally to just over €0.1 million.
GO plc advanced by 1.2% to the €3.44 level on seven deals totalling 13,847 shares. Yesterday, GO published its interim financial results covering the six-month period ended 30 June 2021.
Revenues increased by 2.5% to a record (at interim stage) of €93.9 million compared to €91.6 million in the previous comparable period, reflecting the increased business activity by its subsidiaries Cablenet Communication Systems plc and BMIT Technologies plc. Due to a higher level of expenses, EBITDA eased by 1.9% to €34.8 million (H1 2020: €35.5 million) which, in turn, translates into an EBITDA margin of 37.1% compared to 38.8% in the first half of 2020.
The net profit for the period amounted to €3.91 million. For the first time since 2007, the board of directors of GO elected to distribute a net interim dividend of €0.07 per share to all shareholders as at close of trading on 16 August 2021.
Similarly, Trident Estates plc surged by 12.1% to the €1.57 level on a single deal totalling 2,800 shares.
Meanwhile, Santumas Shareholding plc traded for the first time in five months as it shed 6.5% to the €1.30 level on a single trade of 759 shares.
International Hotel Investments plc closed unchanged at the €0.65 level on one deal of 1,750 shares.
Three trades totalling 40,000 shares left Maltapost plc unchanged at the €1.24 level.
Similarly, PG plc traded flat at the €2.20 level on trivial volumes.
The RF MGS Index recovered some of yesterday’s losses as it gained 0.06% to 1,106.047 points reflecting the drop in yields of long dated governments bonds. The Eurozone ZEW Economic Sentiment index lowered to a 9-month low on fears of a slowing recovery.
Meanwhile in the US, the Senate is expected to hold its final vote on the $1 trillion infrastructure bill today. The proposed legislation includes bipartisan support and is aimed towards improving efficiencies, rebuilding of roads, and new social programmes.