The MSE Equity Total Return Index advanced by another 0.1% to 8,310.761 points. A total of 17 equities were active, seven of which traded lower, while another six closed higher. Total weekly turnover was lower when compared to the previous week, as it stood at €0.5m – generated across 108 transactions.
Last Thursday, Bank of Valletta plc published its interim directors’ statement for the first quarter of 2021. Profit before tax for the first quarter of FY 2021 amounted to €9.3m. This was in line with underlying performance trends experienced over the course of last year, conditioned by subdued activity and provisioning occasioned by the COVID-19 environment.
On the trading floor, the bank was the most liquid throughout the week, generating a total turnover of €0.23m. A 1.1% fall in price was recorded, as 256,612 shares were spread across 34 transactions.
Its peer, HSBC Bank Malta plc rose by 3.1%, as 10 deals involving 27,297 shares were executed. The equity started off the week at €0.84, but ended the week €0.01 lower at €0.83.
Last Tuesday, FIMBank plc announced that its Annual General Meeting is scheduled to take place on July 15, 2021. Two deals involving 1,001 shares translated into a 23.5% spike in price, to close at $0.358.
Meanwhile, a sole deal of 1,005 Lombard Bank Malta plc shares did not impact the equity’s price, to close unchanged at €2.00.
Last Tuesday, Malta International Airport plc (MIA) published April’s traffic results. Passenger traffic through Malta International Airport totalled 39,392 movements during the month of April.
Representing a drop of 94 per cent compared to the same month in 2019, this traffic result marked no significant improvement over previous months.
MIA held its Annual General Meeting on May 5, 2020 whereby the annual report, including financial reports for the year ended December 31, 2020 and the directors’ and auditors’ reports were considered and approved.
The equity started off the week in the green as it reached €6.25, but ended the week flat at €6.20. This was the result of 13,370 shares spread over 16 deals.
Telecommunications company, GO plc was trading in positive territory by mid-week, but failed to sustain an intra-week high of €3.60, ending the week at the €3.46 price level, a few minutes before market close. The equity reached an eight-week low, as 8,478 shares changed ownership across eight transactions.
Similarly, its subsidiary, BMIT Technologies plc was down by 1% to €0.50. Three deals involving 8,500 shares were executed.
RS2 Software plc declined by 2.6% to €1.90 as 2,311 shares were spread over four transactions. This week, trading in RS2 Software plc preference shares commenced, however, no trading activity was recorded.
MIA traffic result marked no significant improvement over previous months
The board of Harvest Technology plc announced the following highlights of the financial results of the Company and its subsidiaries (the “Harvest Group”) as at March 31, 2021 as extracted from the unaudited management accounts of the Company as at such date.
The unaudited consolidated net profit before tax as at end March 2021 amounted to €1,117,061. This marks an improvement of 7% over the projected consolidated net profit before tax for the period, and a 34% increase of the net profit before tax for the same period in the preceding year.
The gross profit margin of the Harvest Group for the quarter improved by 10 percentage points to 51%. Meanwhile, EBITDA margin for the quarter improved by nine percentage points to 30%.
The equity was the second most liquid of the week, as it recorded a total turnover of €93,464. The equity’s price was up by 3.5% as 63,653 shares changed hands across 11 transactions.
Last Wednesday, International Hotel Investments plc announced that its operating arm Corinthia Hotels Limited has signed an agreement with the Reuben Brothers to manage and operate The Surrey, a Corinthia Hotel in New York.
The equity declined to €0.625 during the week but managed to recover, as it closed unchanged at €0.68. Three deals involving 4,460 shares were executed.
Last Monday, Simonds Farsons Cisk plc announced that the 74th Annual General Meeting shall be convened on June 24, 2021. A 3.1% fall in price was recorded over the week, as 4,130 shares changed hands across five transactions. The equity ended the week €0.30 lower at €9.45.
In the property sector, Malita Investments plc announced that the Annual General Meeting shall be held on May 11, 2021. Two deal involving 5,400 shares pushed the price up by 2.3%, to €0.90.
Similarly, Tigne’ Mall plc traded 1.4% higher at €0.75, as 4,000 shares were spread over two transactions.
MIDI plc ended the week in the red at €0.38, translating into a 9.5 per cent movement in price. This was the result of two deals involving 26,590 shares.
Meanwhile, three deals involving 4,705 Malta Properties Company plc shares did not impact the equity’s previous closing price of €0.545.
Trident Estates plc will be holding its 21st Annual General Meeting on June 25, 2021. No trading activity was recorded this week.
One transaction of 453 MaltaPost plc shares dragged the price by 0.8% into the red, to close at €1.24.
Loqus Holdings plc headed the list of gainers, as it closed 48.1% higher at €0.097. This was the outcome of a single deal of just 1,000 shares.
The total revenue generated for the year amounted to €32,411,788 (2019: €68,729,751) as against a forecast of €27,055,000. Adjusted Earnings before interest, tax, depreciation and amortization (EBITDA) amounted to €5,565,272 (2019: €12,718,683) as against a forecast of €5,480,000.
The equity was not active during the week.
Last Wednesday, LifeStar Holding plc (LSI) announced that the offer for sale of 18,518,519 ordinary shares at an offer price of €0.54 per share and the offer of 6,570,000 ordinary shares to its shareholders in exchange for their ordinary shares at an exchange ratio of 1 company share to 1 share in LSI, has been approved by the listing authority.
The MSE MGS Total Return Index lost further ground, as it closed 0.07% lower at 1,124.15 points. A total of 19 issues were active, six of which headed north, while another eight closed in the opposite direction. The best performance was recorded by 2.4% MGS 2041 (I) as it closed 2% higher at €125.00. On the other hand, the 2.2% MGS 2035 (I) closed 5.6% lower at €119.00.
The MSE Corporate Bonds Total Return Index registered a further 0.18% increase, reaching 1,121.07 points. Out of 47 active issues, 19 registered gains, while another 15 lost ground. The 4.5% Shoreline Mall plc Secured € Bonds 2032 headed the list of gainers with a 2.4% increase, to close at €101.41. Conversely, the 5% Dizz Finance plc Unsecured € 2026 lost 3.5%, ending the week at €96.50.
In the Prospects MTF market, seven issues were active. The 5% FES Finance plc Secured € 2029 was the most liquid, as it generated a total turnover of €14,550.
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.