The MSE Equity Total Return Index (MSE) climbed 1.05%, to end the first week of September at 8,140.833 points. This week’s trading sessions saw 18 active equites, eight of which gained ground, five declined, while a further five remained unchanged. Gains in Grand Harbour Marina plc, International Hotel Investments plc, PG plc, GO plc and HSBC Bank Malta plc pushed the equity index higher.
In the banking industry, Bank of Valletta plc was the most liquid equity during this week’s trading sessions. The bank’s share price closed unchanged at the €0.90 price level, as 21 trades with a value of €340,782 were recorded. The equity’s price traded between a weekly low of €0.895 and a high of €0.900.
HSBC Bank Malta plc advanced by a further 1.2%, as the bank’s equity ended the week at €0.81. This price increase was a result of five trades across 48,057 shares. The bank’s equity is trading 10% lower on a year-to-date basis.
In the telecommunications sector, GO plc gained 3% during the week, as the equity marched higher from Monday through Wednesday, while trading unchanged on Thursday and Friday. Sixteen deals worth €101,846 were executed. The share price closed at €3.40.
Compared to the previous week’s gain, BMIT Technologies plc shares shed 2% over the past week. The equity price fluctuated between a weekly low of €0.48 and a weekly high of €0.49. Total trading value tallied up to €117,246. The equity closed at the €0.49 price level.
Harvest Technology plc traded flat during the week and closed unchanged at the €1.50 price level. Two small trades across 1,700 shares during Monday and Wednesday’s trading sessions were recorded.
The equity of International Hotel Investments plc (IHI)trended 7.7% higher during this week’s trading sessions. Six trades during Thursday’s trading session with a trading value of €23,196 ensured that the hotel chain operator’s share price ended the week in the green. During the week, the board of IHI approved the half-yearly financial report for the period ended June 30, 2021. The group registered revenue of €34.6 million in the first six months of 2021 of which approximately 30% is not hotel-related. The company posted a negative EBITDA of €0.8 million for the period under review. This compares to revenue of €51.7 million and a negative EBITDA of €2.1 million in the corresponding period last year.
During the period under review, the group registered a loss after tax of €26.4 million compared to a loss of €30.1 million reported in the same period last year. The board has also submitted an application to the Malta Financial Services Authority to approve the listing and trading on the Malta Stock Exchange of the unsecured bonds redeemable in 2031.
In a separate announcement, IHI informed the market that Corinthia Hotels and Dubai-based developer Meydan have also agreed a settlement to exit from their respective positions of hotel operator and investor on a beachfront hotel and residential project in the Jumeirah Beach Residence area of Dubai.
Malta International Airport plc share price eased by 2.4% to end the week at the €6 price level, as 22,919 shares changed ownership across 14 trades. The airport’s shares are trading 3.2% lower since January.
Maltapost plc shares traded flat during the week, as six trades across 16,874 shares were recorded. The postal service equity closed at €1.28.
RS2 Software plc slid 1.7% to €1.75, as 55,948 RS2 shares were traded over seven deals. The company’s shares on a year-to-date basis are down by 12.5%.
Grand Harbour Marina plc was last week’s best performer as the share price jumped 33.3% to close at €0.80. The equity traded seven times with trading value tallying up to just €6,343.
The share price of PG plc rose 4.3% during the week to a four-month high of €2.44, as 29,531 shares changed hands.
Following the publication of MedservRegis plc half year report, the equity lost 3.3%, as 15,000 shares changed hands over four trades. MedservRegis plc approved their half-yearly financial report for the period ended June 30, 2021. Turnover for the first six months stood at €6 million compared to €6.3 million in the same period last year, a decrease equivalent to 4.6%. The group’s EBIDTA was a negative €56,604, which is a significant jump from last year’s negative €1.3 million. This negative figure was a result of an impairment allowance on a trade receivable balance. After all deductions were made, the group registered an operating loss of €503,214, a significant improvement from last year’s €2.6 million loss. After accounting for the profit from discontinued operation, profit for the period amounted to €1.9 million compared to last year’s €3.2 million loss. On a year-to-date basis, the company’s shares are trading 8.2% lower at the €0.725 price level.
Tigné Mall plc was amongt this week’s best performers, as the company’s share price gained 7.6% across 27,600 shares over six deals, to end the week at the €0.85 price level.
During the week, Plaza plc advanced by 1.7%, as two small trades involving 3,513 shares during Monday’s trading session ensured that the equity ended the week in the green. The shopping mall’s shares did not trade for the rest of the week and closed at €0.915. The board of Plaza Centres plc announced that during the month of August, the company purchased a total of €50,000 in 3.9% unsecured bonds 2026.
Malta Properties Company plc plummeted by 4.6% with a mere trading value of €525 over one trade of 1,000 shares being recorded, to close the week at €0.525.
Mapfre Middlesea plc and Main Street Shopping Complex plc closed the week unchanged at the €2.14 and €0.476 price level, respectively. Both equities were involved in one small trade totalling just €432 and €952.
During Monday’s trading session, Malita Investments plc trended 4.9% higher, with a sole trade 23,250 shares, to end the week at the €0.86 price level. The equity did not trade for the rest of the week.
This week, MIDI plc published their unaudited consolidated financial statements for the six months ended June 30, 2021. Although the MIDI Group has registered a profit after tax of €962,000 (2020: loss of €1.1m) during the first six months, these results have been in part impacted by COVID‐19 pandemic as MIDI continued supporting the tenants of its commercial properties and its car park operator by way of rent concessions albeit not to the same extent as in 2020.
The positive results were driven by the sale of two apartments out of the three apartments in the Q2 residential development which were part of the inventory at the beginning of the year. With regards to the property and rental management segment, revenues were at €1.2 million (2020: €1.1 million), mainly due to rent concessions to help tenants during the COVID-19 pandemic. Operating profit for this segment tallied to €588,000 (2020: €510,000)
From a balance sheet perspective, net asset value increased from €101.8 million to €102.8 million, reflecting the profit posted for the relevant period.
The board of Lifestar Insurance plc approved the unaudited half-yearly financial report of the company for the six-month period ended June 30, 2021. The consolidated loss after tax for the first six months totalled €1.4 million compared to the prior period consolidated loss after taxation of €2.7 million. Gross written premiums rose by 5% over the same period last year, while the business commission generated from its subsidiary Lifestar Health decreased by 6% when compared to the first six months of 2020.
The board of Trident Estates plc is scheduled to meet on September 22 in order to consider and approve the company’s unaudited financial statements for the six months ended July 31, 2021.
The board of Santumas Shareholdings plc approved their annual report for the year ended April 30, 2021. Net profit recorded was €79,882, a significant increase when compared to a loss of €825,213 in 2020. Interest income generated from the company’s investment portfolio dropped by 6% when compared to the same period last year. The company’s property rose in value during this period and yielded an unrealised gain of €96,323 (2020: €5,000). The directors did not propose any dividend for the year.
No trading has taken place during the week in the above four named equities. The MSE MGS Total Return Index declined by 0.3%, to end the week at 1,098.744 points. Only the 4.65% MGS 2032 (I) experienced an increase of 0.1% in its price over the past week, to end the week at the €142.20 price level. On the downside, the 2.5% MGS 2036 (I) suffered the biggest decline, as it dropped by 1.7% to end the week at €119.50.
The MSE Corporate Bonds Total Return Index ended the week 0.01% lower at 1,149.777 points. The 5.9% Together Gaming Solutions plc unsecured € 2024-2026 gained 2.98% and ended the week as the best performer at the €102.99 price level. On the other hand, the 4.25% GAP Group plc secured € 2023 suffered the biggest drop, as it declined by 2.9% to close at €101.
In the Prospects MTF market, activity was spread across two issues, as turnover amounted to €15,000. The 5% Luxury Living Finance plc € Secured Bonds 2028 was the most liquid, as weekly turnover reached €10,000 over two transactions and closed the week at €100.
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.