The MSE Equity Total Return Index jumped 1.4% during the week, closing at 7596.674 points. A total of 16 equities were active, of which five headed north while another eight closed in the opposite direction. Total turnover tallied to €0.6m, a decline of €1.3m when compared to the previous week. A total of 112 deals were executed.
The MSE MGS Total Return Index recorded a negative 0.1% movement, reaching 875.022 points. Out of seven active issues, three registered gains, while one lost ground. The 2.4% MGS 2041 (I) headed the list of gainers as it closed 0.2% higher at €80.50. On the other hand, the 4.1% MGS 2034 (I) lost 0.3%, ending the week at €104.23.
The MSE Corporate Bonds Total Returns Index registered a decline of 0.6% as it closed at 1116.038 points. A total of 62 issues were active, of which nine traded higher, while 25 closed in negative territory. The 4.85% JD Capital plc € Secured Bonds 2032 S1 T1 traded 10% lower, closing at €90.01. On the other hand, the 3.75% Tumas Investments plc Unsecured € 2027 gained 4.3% to close at €95.99.
Top 10 Market Movements
HSBC Bank Malta plc was the best performing equity, as the equity closed at a three-year high of €1.04. This translated to a 10.6% increase. A total of 138,875 shares exchanged hands across 38 deals.
Similarly, APS Bank plc registered an increase of 4.2% in its share price. The equity closed at €0.615, as five transactions worth €8,693 were recorded.
Bank of Valletta plc finished the week at the €0.93 price level, translating to a 1.1% decline. The banking equity fluctuated between a high of €0.93 and a low of €0.895. A total of 19 deals worth €71,588 were executed.
Malta International Airport plc (MIA) gained 3.5% during the week, after announcing positive financial results for 2022. The increase in share price was a result of 16 deals executed between Thursday and Friday. MIA was the most liquid equity, as total turnover reached €205,433.
Telecommunications operator GO plc closed at a five-month high of €3.10, a week-on-week increase of 6.9%. A total of 2,512 shares were executed over three deals.
Malta Properties Company plc ended in positive territory with a 1.8% increase, to close at €0.46. A single deal involving 1,200 shares was executed.
VBL plc, was active on Wednesday, as two transactions of 15,000 shares were recorded. VBL was the worst performing equity, plummeting by 12.9% to close at €0.23.
Hili Properties plc followed suit, recording a 2.6% decline as it closed at €0.224. This was the outcome of three trades on a volume of 12,000 shares.
A sole deal of just 44 MaltaPost plc shares dragged the share price 12% lower, closing at €0.95.
PG plc started the week in negative territory, as it dropped to €1.96. Despite partially recovering Monday’s loss, the equity closed 1% lower at €2.06 spread over six deals. A total of 49,472 shares exchanged ownership.
Company Announcements
The board of FIMBank plc is scheduled to meet on March 22, 2023 to consider and approve the group’s and the bank’s audited accounts for the financial year ended December 31, 2022.
During a meeting held on February 21, 2023, the board of HSBC Bank Malta plc approved the annual report and accounts as at December 31, 2022.
The reported profit before tax for the year ended December 31, 2022 was €57.3m. This represents an increase of €30.4m or 113% compared to the previous year. The adjusted profit before tax of €58.8m increased by €29.2m, or 98% versus 2021 excluding the impact of restructuring provisions of €1.5m.
The board has recommended a dividend pay-out of €13.1m, the highest dividend paid in the last four years. The final dividend will be paid on April 25, 2023 to shareholders who are on the bank’s register of shareholders on March 21, 2023, subject to approval at the bank’s AGM scheduled for April 20, 2023.
The board of MIA held a meeting on February 22, 2023, during which they approved the group’s financial results for the year ended on December 31, 2022.
MIA announced that the group’s net profit, exclusive of a tax credit used by the company in 2022, amounted to €26.9m compared to a net profit of €7.0m reported in 2021. With the €12m tax credit awarded to the company for the losses suffered due to the COVID-19 pandemic, the group’s net profit reached €38.9m.
The board scheduled the company’s AGM to be held on May 10, 2023. It is recommending the payment of a final net dividend of €0.12 per share (gross €0.1846) on all shares settled as at close of business on April 10, 2023, which dividend shall not be paid later than May 26, 2023.
The board of AX Real Estate plc is scheduled to meet on February 27, 2023 to consider and approve the financial statements of the company for the financial year ended October 31, 2022.
The board of Malta Properties Company plc is scheduled to meet on March 14, 2023 to consider and approve the company’s audited financial statements for the financial year ended December 31, 2022, and to consider the declaration of a final dividend to be recommended at the company’s AGM.
Loqus Holdings plc announced that the directors are scheduled to meet on February 28, 2023 to consider and approve the half-yearly report of the company for the six months ended December 31, 2022.
The board of BMIT Technologies plc is scheduled to meet on March 8, 2023 to consider and approve the company’s audited financial statements for the financial year ended December 31, 2022. The company will also be considering the declaration of a final dividend which will be recommended at the company’s AGM.
This article, which was 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 a member of 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, or on Tel: 21224410, or email info@jesmondmizzi.com