GO and Malita publish financial results

The MSE Total Return Index increased a further 0.246% as it ended the session at 9,165.303points. A total of 12equities were active, of which sixheaded north while another fiveclosed in the opposite direction. A total turnover of €574,912was generated across 57 transactions.

GO plc published its preliminary financial statements for the year ended December 31, 2018. The group generated a revenue of €171.8 million, which translates to a 3.2% increase over 2017. This increase was the result a 2.2% improvement in the group’s operations in Malta, as well as a 7.8% upsurge in Cablenet’s revenues. The group intends to continue investing in the latter’s operations in Cyprus, to be able to service a larger client base. This strategy has proved fruitful so far, as Cablenet’s EBITDA was up 12.2% last year.

Cost of Sales, administrative and related costs also increased, at a slower pace of 1.7%, to €140.4 million. As a result, group EBITDA grew by 6% to €69.5 million over the previous year, while profit before tax stood at €31.7 million, compared to €27.9 million in 2017. Earnings per share increased to €0.187 from €0.165 in 2017.

The board is recommending that the annual General Meeting approves the payment of a final net dividend of €0.14 per share. The board has also resolved to approve the payment of a special net interim dividend of €0.41. The latter dividend will be made in view of the profits generated from the sale of the company’s 49% shareholding in BMIT Technologies plc. Both dividends will be paid on May 30, 2019, to all shareholders on the register as at April 26, 2019.The Annual General Meeting shall be held on May 28, 2019.

The equity gained 2.97% to reach the highest closing pricei n over 12 years of €4.86 over a turnover of €121,546.

Bank of Valletta plc lost 0.4% to €1.26 over five deals of 26,266 shares.

Its peer, HSBC Bank Malta plc also declined 1.21% to settle at €1.63. Trading volume amounted to 123,125 shares over three deals.

Malta International Airport plc was up 1.54% to €6.60 as 1,750 shares traded over two deals.

Conversely MaltaPost plc drifted 2.31% lower to €1.27 over a volume of 5,000 shares. 

In the property sector, Plaza Centres plc climbed 0.98% to €1.03 over one deal of 3,300 shares.

After the market closed, Malita plc published its financial statements for the year ended December 31, 2018. The statements show a profit before tax of €13.7 million, 38.9% lower than the previous year’s figure of €22.5 million. Revenue increased by 7.2% to just over €8 million, while administrative expenses were 30.1% higher to €508,983. The statements were impacted by a positive €7.7 million change in fair value of investment property. However, this was less than half the previous year’s figure of €16.7 million, which explains the difference in profit before tax between 2017 and 2018.

A single transaction of 500 shares had pushed the equity upwards by 7.26% during the session.

MIDI plc lost 2.33% in value during the session, closing at €0.63. A total of 25,000 shares changed hands over two deals.
 
Malta Properties Company plc added 1.75% to €0.58 as 198,222 shares changed ownership over ten deals. 

The share price of PG plc dropped 0.73% to close at €1.36 over four trades o 11,339 shares.

Meanwhile, BMIT Technologies plc lclimbed 0.97% to €0.52 over a turnover of €52,289.

In the corporate debt market, 29 issues were active, 10 of which posted gains while another eight drifted lower. The top performer was the 3.85% Hili Finance Company plc Unsecured € 2028 with a 1.13% gain to €102.30.

On the sovereign debt front, out of 14active issues, 12advanced while noneregistered a loss. The largest gain of 0.96% was registered by the 4.5% MGS 2028 (II) as it ended the session at €132.26.


The Equities traded today were:

Symbol Code

Volume Traded

Value Traded

Trades

Closing Price

% Change

BOV

26,266

33,096.16

5

1.260

-0.40%

HSB

123,125

200,779.75

3

1.630

-1.21%

GO

25,329

121,546.24

15

4.860

2.97%

PZC

3,300

3,399.00

1

1.030

0.98%

MIA

1,750

11,450.00

2

6.600

1.54%

GHM

35

24.50

1

0.700

0.00%

MTP

5,000

6,350.00

2

1.270

-2.31%

MDI

25,000

15,750.00

2

0.630

-2.33%

MLT

500

480.00

1

0.960

7.26%

MPC

198,222

114,223.26

10

0.580

1.75%

PG

11,339

15,524.43

4

1.360

-0.73%

BMIT

100,183

52,288.58

11

0.520

0.97%



The Corporate Bonds traded today were:

 

Closing Price

% Change

7.5% MeDirect Bank plc Subordinated EUR 2019

102.000

0.00%

4.8% Bank of Valletta Plc Sub € 2020

102.500

0.49%

4.9% Gasan Finance Company plc € 2019-2021

103.000

0.29%

5% Mediterranean Investments Holding plc Unsecured € 2022

101.000

0.00%

6% Pendergardens Developments plc Secured € 2022 Series II

111.000

0.00%

5.3% United Finance Plc Unsecured € Bonds 2023

106.000

0.00%

4.4% Von der Heyden Group Finance plc Unsecured € 2024

102.000

-1.35%

5.3% Mariner Finance plc Unsecured € 2024

109.000

-1.57%

5% Hal Mann Vella Group plc Secured € 2024

105.500

-1.18%

6% MeDirect Bank plc Subordinated Unsecured € 2019-2024

101.000

0.00%

5.1% 1923 Investments plc Unsecured € 2024

104.000

-0.19%

4.25% Best Deal Properties Holding plc Secured € 2024

104.000

0.00%

5.75% International Hotel Investments plc Unsecured € 2025

107.100

0.05%

4.5% Izola Bank plc € Unsecured 2025

105.000

0.96%

4.5% Medserv plc Unsecured € 2026

100.200

0.00%

4.25% Corinthia Finance plc Unsecured € 2026

104.000

0.00%

4% MIDI plc Secured € 2026

104.250

-0.71%

4% International Hotel Investments plc Secured € 2026

104.500

0.00%

3.75% Premier Capital plc Unsecured € 2026

104.000

0.00%

4% International Hotel Investments plc Unsecured € 2026

103.000

0.00%

4% Eden Finance plc Unsecured € 2027

103.600

-1.33%

4.4% Central Business Centres plc Unsecured € 2027 S1/17 T1

103.500

0.49%

4% Stivala Group Finance plc Secured € 2027

104.940

-0.01%

3.75% Virtu Finance plc Unsecured € 2027

104.000

-0.29%

3.75% Bortex Group Finance plc Unsecured € 2027

103.500

0.49%

3.85% Hili Finance Company plc Unsecured € 2028

102.300

1.13%

4.15% Phoenicia Finance Company plc Unsecured € 2023-2028

104.750

0.72%

3.5% Bank of Valletta plc € Notes 2030 S1 T1

101.000

1.00%

3.5% Bank of Valletta plc € Notes 2030 S2 T1

99.750

0.76%



The Government Stocks traded today were:

 

Closing Price

% Change

5% MGS 2021(I)

112.290

0.07%

5.1% MGS 2022(I)

117.400

0.10%

1.5% MGS 2027 (I)

106.200

0.33%

4.8% MGS 2028 (I)

134.820

0.39%

4.5% MGS 2028 (II)

132.260

0.96%

2.3% MGS 2029 (II)

111.810

0.61%

5.25% MGS 2030 (I)

143.160

0.53%

5.2% MGS 2031 (I)

144.300

0.00%

4.65% MGS 2032 (I)

140.000

0.38%

4.45% MGS 2032 (II)

137.500

0.36%

2.5% MGS 2036 (I)

112.740

0.66%

2.1% MGS 2039 (I)

106.250

0.71%

3% MGS 2040 (I)

121.000

0.00%

2.4% MGS 2041 (I)

110.500

0.45%



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 info@jesmondmizzi.com.

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