The MSE Equity Total Return Index ended in the red for the second week in a row, as it closed 0.3% lower to 7,736.986 points. Out of 19 equities traded, three increased in price, while another eight closed in the opposite direction. Total weekly turnover declined to €1. 1 million and was generated across 133 transactions.
The MSE MGS Total Return Index rose by 0.3% to close at 881.838 points. A total of 11 issues were active, with the 4.00% MGS 2043 (I) being the most liquid issue with trading turnover reaching €232,703 and ending the week at €99.34.
The MSE Corporate Bonds Total Return Index increased by 0.9%, as it closed the week at 1,156.202 points. A total of 56 active issues were executed, with the 3.75% Premier Capital plc Unsecured € 2026 being the most liquid corporate issue, with turnover reaching €197,960 and closing at €98.
Top 10 market movements
The share price of Simonds Farsons Cisk plc had the biggest impact on the MSE equity index, as eight deals on a volume of 9,686 shares pushed the equity price 2.9% higher to €7.20. Total turnover reached €68,333. Since the beginning of the year, the company’s share price has risen by 5.1%.
HSBC Bank Malta plc declined by 0.9% to €1.09. Trading activity comprised eight deals totalling 120,639 shares.
APS Bank plc’s shares trended 1.7% higher during the week to close at €0.61. This rise was the result of 30,839 shares worth €18,729 changing ownership.
Lombard Bank Malta plc’s share price increased by 2% to close at €1.02 as 6,908 shares were exchanged in two deals. On a year-to-date basis, the bank’s equity is down by 3.8%.
Following six months of inactivity, the equity of Grand Harbour Marina plc plummeted by 53% to end the week at €0.55 after single deal of 6,000 shares was executed.
Two deals of VBL plc shares involving a trading value of €5,550 during Tuesday and Thursday’s sessions dragged the property company’s equity 4.8% lower to €0.20.
The share price of Malta Properties Company plc fell by 1% to €0.40 as a result of five deals on a volume of 34,800 shares.
The equity of the postal service operating company MaltaPost plc slid by 2.1% to €0.46 in Monday’s trading session. Two deals worth €4,000 were recorded. The equity did not trade for the rest of the week.
RS2 Software plc suffered a 2.7% decline in its share value to close at €1.10. Two deals worth €9,900 were executed.
BMIT Technologies plc shares closed 0.5% in the red, as nine deals on a volume of 205,300 shares were transacted. The equity closed the week at €0.43.
Company announcements
Malta International Airport plc (MIA) published its financial results for the first quarter of 2023. The group’s financial performance for the first three months registered a marked improvement over the same period in 2022, with revenues increasing by 75% to reach €18.9 million. This increase was largely driven by strong traffic results for the first quarter of 2023 as passenger numbers rose 85% over the same quarter in 2022, to amount to 1.2 million. The group’s gross profit amounted to €6.5 million, marking a fivefold increase compared to the profit over Q1, 2022.
International Hotel Investments plc (IHI) announced that Corinthia has signed a hotel management agreement to operate a luxury resort in the Maldives. The developer of the luxury resort Corinthia will operate is Maarah Pvt Ltd, a Maldivian entity affiliated with Maarah Holdings Ltd, a United Arab Emirates company registered at the Dubai International Financial Centre.
MaltaPost plc’s board of directors on Wednesday approved the unaudited condensed consolidated financial statements for the six-month period ended March 31, 2023. The group registered a pre-tax profit of €0.7 million, up from €0.6m in 2022. This was achieved on the back of a total revenue of €20.5m and a total expenditure of €19.8m, compared to €15.6m revenue in 2022. Expenditure rose pro-rata to total revenue due to the higher cost of airport handling, airfreight and terminal dues, coupled with the general impact of inflation.
Main Street Complex plc’s board of directors announced that the company’s next annual general meeting will be held on June 12.
APS Bank plc announced that at its AGM held on May 16 at The Hilton Malta, all proposed resolutions that had been published in its previous announcement on April 25 were approved.
Malta Properties Company plc announced that all the resolutions on the agenda of its AGM held on May 17 were approved.
Simonds Farsons Cisk plc’s board of directors met on May 18 and approved the annual report and financial statements of the company and the group for the year ended January 31, 2023. The group turnover reached a record of €118.2 million, an increase of 28.8% from last year’s figure of €91.8m. Group profit before tax also reached a record of €15.3m, up from €12.2m in the 2022 financial year.
The board proposed a final dividend of €3.96m, equivalent to €0.11 per share, to the shareholders for approval at the forthcoming AGM. This will add up to a total dividend of €5.58m, or €0.155 per share for the year ended January 31, 2023.
On Friday, Trident Estates plc’s board of directors approved the annual financial report for the year ended January 31, 2023. Revenues for the group amounted to €2.4m, more than double the turnover figure reported for the previous year (FY2022: €1.1m). This was mostly the result of new rental income as tenants gradually move into Trident Park.
Operating profits for the year amounted to €1.3m (FY2022: €323,000). As a result of a fair value gain of €6.7m (FY 2022: nil) on their investment property portfolio, profit before tax for the year amounted to €7.5m (FY2022: €141,000). The tax charge for the year amounted to €912,000 (FY2022: €78,000) and includes a deferred tax charge on the fair value gain of €675,000.
This article, which was compiled by Jesmond Mizzi Financial Advisors Ltd, 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 the article. For further information contact Jesmond Mizzi Financial Advisors Ltd at 67, Level 3, South Street, Valletta, or on Tel. 2122 4410, or e-mail info@jesmondmizzi.com.