Interim financial results dominate the week
MSE Trading Report for week ending August 12, 2016
The MSE Index marginally recouped last week’s 1.2 per cent loss with a 0.22 per cent gain, to close at 4,426.111 points. Turnover amounted to €836,684 and was spread across 16 equities of which six fell, seven advanced and three closed unchanged.
International Hotel Investments plc shares headed the list of gainers having appreciated by €0.046 or 7.6 per cent on a sole transaction of 1,000 shares, closing at €0.65.
On the other hand, FIMBank plc shares were the worst performers having declined by 3.6 per cent as 12 deals of 133,995 shares were struck, to close at $0.98. On Wednesday, the trade finance bank announced its interim financial statements for the six months ended June 30, 2016. The group reported a profit before tax of $2.15 million for the six months ended June 30, 2016, compared to a $7.73 million loss registered in the comparable period of 2015. Net interest income for the period under review declined by 39.6 per cent to $9.79 million, due to temporary idle liquidity and higher stock of liquidity assets, the tightening margins in the Group’s markets and products, and reduced income on forborne or delinquent assets. Earnings per share stood at $0.38. The Board of Directors did not recommend the payment of an interim dividend.
Bank of Valletta plc shares eased 0.9 per cent lower as 69,168 shares changed ownership over 37 deals, closing at €2.20. Similarly, HSBC Bank Malta plc shares declined by 2.4 per cent as 74,971 shares were negotiated across 18 trades, to close at €1.561. The equity turned ex-dividend on Thursday, but has not traded since.
Meanwhile, Lombard Bank Malta plc shares closed unchanged at €2.249 as two deals of 888 shares were executed on Monday.
Mapfre Middlesea plc shares gained a minimal 0.4 per cent across seven transactions of 12,973 shares, closing at €2.05. Conversely, MIDI plc shares slipped by 1.1 per cent over one trade of 5,277 shares, to close at €0.375.
In the I.T. sector, RS2 Software plc (RS2) shares stumbled by €0.05 or 2.6 per cent during Friday’s session, as 73,978 shares changed ownership across 20 deals, closing at €1.85. After close of trading on Thursday, RS2 announced its interim financial statements for the period ended June 30, 2016. The Group recorded a profit before tax of €3.4 million, a decline of 47.9 per cent when compared to the first six months of 2015. This was mainly attributed to higher expenses as the Group gears up for further growth and the effect of foreign currency fluctuations. Revenue for the period under review was reported at €11.2 million, slightly down by 2.6 per cent from €11.5 million in 2016. Earnings per share stood at €0.016. The board of directors did not declare an interim dividend.
After close of trading on Friday, 6pm Holdings plc released its interim financial statements for the six months ending June 30, 2016. The group reported a profit before tax of GBP 488,994 compared to GBP 413,199 at June 30, 2015 representing an increase of 18%. During the first 6 months of 2016, the Group continued to focus on its 3 pillars of activity – Hospital Management Products, Clinical Products, and Electronic and Mobile Care products – with the aim to become a leader in world class IT Health Solutions. The directors are recommending that no interim dividend is to be paid.
Loqus Holdings plc shares traded flat at €0.135 as two trades of 2,694 shares were executed.
Malta International Airport plc shares advanced by a significant €0.10 over 16 deals of 16,740 shares, to close 2.4 per cent higher at €4.22. Likewise, GO plc shares strengthened by €0.10 or 3.6 per cent across seven transactions of 16,728 shares, closing at €2.92.
The telecommunications company announced its interim results for the six month period ended June 30, 2016. The company reported an increase of 31.3 per cent in profit before tax, at €17.1 million when compared to the €13 million registered in the first six months of 2015. Revenue for the period under review amounted to €76.7 million – up by 26.3 per cent over 2015. Earnings per share stood at €0.141. The Board of Directors did not declare any dividends and have resolved to determine the extent of dividend distribution for 2016 on the basis of the full results for the year.
The significant increase in profit over the comparable period in 2015 was primarily the result of a gain arising from the acquisition of a subsidiary, amounting to €6.1m. The interim results for 2016 reflect the consolidation of the results of Cablenet and Kinetix, which had an overall positive effect on Group results. Nevertheless, there was still a significant improvement in the EBITDA figure, up by 19 per cent to €29.9m.The Board of Directors did not declare any dividends and have resolved to determine the extent of dividend distribution for 2016 based on the full results for the year. The equity locked a weekly gain of 3.6 per cent, to close at its 12-week high of €2.92, following seven deals of 16,728 shares.
Malta Properties Company plc shares added on to the previous week’s gains having increased by 3.4 per cent across six trades of 96,185 shares, closing at €0.525 On the other hand, the share price of Medserv plc declined by 1.8 per cent, to close at €1.77. The equity was active on four deals of 32,900 shares.
Conversely, Simonds Farsons Cisk plc shares rose by 1.6 per cent as 7,184 shares changed ownership across three trades, closing €0.10 higher at €6.35.
Similarly, Plaza Centres plc shares registered a 1.9 per cent gain on a single deal of 200 shares executed at €1.07. Meanwhile, Malita Investments plc shares closed the week unchanged at €0.851. The equity was active across two transactions of 4,500 shares.
Last Friday, Tigne Mall plc published its interim financial statements for the six months ended June 30, 2016. The company registered a profit before tax of €1.4 million, compared to €1.2 million registered in 2015. Revenue for the period under review amounted to €2.8 million, a rise of 8.1 per cent from 2015. Earnings per share increased to €0.014. Moreover, the Directors declared an interim net dividend payment of €0.0125 per nominal €0.50 share, which will be paid on September 16, 2016 to shareholders on the Company’s register as at August 22, 2016.
In the corporate bond market, 29 issues were active of which 11 increased, eight fell and ten closed unchanged. Turnover amounted to €1.7m. The 4% International Hotel Investments plc Secured € 2026 was the most liquid issue having witnessed a turnover of €606,892, registering the best performance for the week of 3.7 per cent and closing at €103.69.
In the sovereign debt market, turnover totalled €8m spread across 21 issues of which four decreased in value, sixteen rose and one closed unchanged. The 3.2% MGS 2019 (V) was the worst performer having declined by 1.3 per cent, to close at €109.35, while the 3% MGS 2040 (I) headed the list of gainers having advanced by 1.1 per cent, closing at €115.07.
On Thursday, the Treasury announced the allocation policy for the recent Malta Government Stock (MGS) issues. Applications for the 1.5% MGS 2022 (IV) F.I. have been accepted in full. Applications for the 2.4% MGS 2041 (I) up to €50,000 will be satisfied in full, while applications above €50,000 shall receive a minimum of €50,000 nominal per applicant plus an additional 15 per cent of the remaining unallocated balance per applicant rounded up to the nearest €100.