PG plc trades flat despite positive results

PG

 MSE Daily Trading Report, August 11, 2017

The MSE Total Return Index was back in positive territory as the index closed 0.493 per cent higher, to close at 8,948.564 points. Out of the eight active issues three headed north, four declined and PG plc remained unchanged. Total turnover was slightly lower than yesterday as it stood at €204,427 – registered across 41.

During the day, PG plc issued its financial statements for the year ending Aril 30, 2017. The Company registered an annual profit before tax of €10.8 million for the period ended April 30,2017, compared to €6.7 million registered in the same period in 2016. This surge in annual profit before tax can be explained further by a number of material changes in the composition of the Group. The Group increased its shareholding in PAVI Supermarket from 50% to 100% on August 31, 2015. Moreover, PAMA Shopping Village opened for business in late October 2015, and the financial year ended April 30, 2016 accordingly only includes six months operation of the supermarket and its related retail outlets; whereas a full year’s trading results of this business are reflected in the financial year ended April 30, 2017. The retail mall within the PAMA Shopping Village, including the Zara Home outlet situated therein, commenced operations in November 2016.

Revenue for the period under review amounted to €91.7 million , a rise of 65.8 % from 2016. Earnings per share (EPS) increased to €0.35 from 0.25. In line with the Company’s policy as declared in the Company’s prospectus dated March 27, 2017, the first dividends payable will be for the current financial year ending April 30, 2018. Despite these positive results, the equity traded flat on for occasions.

The Major banks rebounded strongly during the session as HSBC Bank Malta plc shares and Bank of Valletta plc shares gained 2.4 per cent and one per cent respectively. Although both falling in the positive end of the spectrum, total turnover and trade frequencies were substantially different. The former traded twice, for a total value of €9,802, while the latter featured in 26 transactions worth €115,407.

Lombard Bank Malta plc was the only active equity from the banking industry which closed in the red. A total of 2,130 shares were exchanged across two transactions, as the share price declined by 1.3 per cent, to close at €2.36.

A single trade of a mere 304 shares in Malta International Airport plc, caused the price per share to fall by 0.5 per cent and close at €4.20. Similarly, thin trading volume in RS2 Software plc’s equity dragged the price down by 0.1 per cent, to close at €1.788.

Two respective trades in Medserv plc shares and Santumas Shareholdings plc shares yielded mixed performances. The former declined by 1.4 per cent, to close at €1.343, while the latter appreciated by 2.3 per cent, to settle at a fresh all time high of €2.20. Santumas Shareholdings plc also announced that the Board of Directors is due to meet on August 18, 2017, to consider and approve the Company’s Audited Financial Statements for the year ended April 30, 2017.

In the corporate debt market a total of 14 issues were active during the session. Out of these, six closed unchanged while gainers and fallers tallied at four a piece. The 3.75% Premier Capital plc Unsecured € 2026 registered the highest appreciation - that of 1.2 per cent, to close at €102.75.

On the sovereign debt front, a total of 17 issues were active, of which 10 closed higher, five closed lower and two closed flat. The 2.1% MGS 2039 took the lion’s share of total trading, as this amounted to €1.08 million or 52.8 per cent of overall turnover. 


Equity Trades

 

Symbol Code

Volume Traded

Value Traded

Trades

Closing Price

% Change

BOV

56,418

115,407.16

26

1.03%

-0.97%

HSB

5,014

9,802.37

2

2.36%

-4.40%

LOM

2,130

5,026.80

2

-1.26%

-0.27%

MIA

304

1,276.80

1

-0.47%

0.00%

MDS

22,000

29,546.00

2

-1.40%

0.00%

RS2

2,246

3,968.50

2

-0.06%

0.00%

STS

9,000

19,800.00

2

2.33%

0.07%

PG

14,000

19,600.00

4

0.00%

0.00%



Corporate Bond Trades

 

 

Closing Price

% Change

5.9% HSBC Bank Malta Plc € Sub 2018

104.500

0.00%

5% GlobalCapital plc Unsecured € 2021

99.000

-0.39%

6% Mediterranean Investments Holding plc Euro 2021

104.250

0.00%

5% Mediterranean Investments Holding plc Unsecured € 2022

104.010

0.01%

4.25% GAP Group plc Secured € 2023

103.000

0.88%

6% AX Investments Plc € 2024

113.500

0.00%

4.4% Von der Heyden Group Finance plc Unsecured € 2024

99.980

-0.01%

6% Island Hotels Group Holdings plc € 2024

106.010

-0.97%

5.1% PTL Holdings plc Unsecured € 2024

102.000

0.00%

4.5% Hili Properties plc Unsecured € 2025

105.000

-0.10%

4% International Hotel Investments plc Secured € 2026

103.000

0.00%

5% Dizz Finance plc Unsecured € 2026

105.950

1.15%

3.75% Premier Capital plc Unsecured € 2026

102.750

1.18%

4.35% SD Finance plc Unsecured € 2027

102.500

0.00%



Government Stock Trades

 

 

Closing Price

% Change

5% MGS 2021(I)

119.440

-0.06%

4.3% MGS 2022 (II)

119.500

-0.02%

5.1% MGS 2022(I)

124.370

0.00%

5.5% MGS 2023 (I)

129.810

-0.03%

4.8% MGS 2028 (I)

135.210

0.04%

4.5% MGS 2028 (II)

132.320

0.05%

2.3% MGS 2029 (II)

108.920

-0.02%

5.25% MGS 2030 (I)

143.230

0.17%

5.2% MGS 2031 (I)

144.530

0.00%

4.65% MGS 2032 (I)

139.070

0.09%

4.45% MGS 2032 (II)

136.100

0.29%

4.1% MGS 2034 (I)

132.870

0.30%

2.2% MGS 2035 (I)

104.440

0.41%

2.5% MGS 2036 (I)

106.560

0.06%

2.1% MGS 2039 (I)

99.340

0.05%

3% MGS 2040 (I)

114.540

-0.03%

2.4% MGS 2041 (I)

102.830

0.13%



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. Jesmond Mizzi Financial Advisors Limited is licensed to conduct investment services by the MFSA and is a Member Firm of the Malta Stock Exchange. 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.

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