Malta Weekly Round-Up Report: 30th March — 5th April 2007

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Positive week for Maltacom, as its share price increases 5%

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The MSE Index closed rather stable from last Friday’s session, edging just 0.08% or 3.7 points higher to close at 4,819.13. 304 transactions were executed on the Malta stock exchange for a total value of nearly Lm1.13 million. 188 transactions were performed in the equity market with a volume traded of 418,880 while 115 trades were done in the bond market for a volume of 595,800.

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Datatrak holdings was the top equity performer of this four-day week adding 6.4% to close 1c7 higher at Lm0.282. This increase was however attained over a single transaction of 2,000 shares.

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Maltacom also closed in positive territory in the week in which it announced its financial results for the year ended 31st December 2006. The equity gained 5% to close 7c higher at Lm1.47. As reported in the financial statements, the profit before tax was Lm12.1 million representing a decline of Lm4 million when compared to 2005, however this was mainly affected by charges amounting to Lm3.2 million for voluntary retirement costs. The group however maintained its turnover levels; revenue increased by 1% while cost of sales reduced by 1.66% in 2006, when compared to the same period in 2005.

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Furthermore, earnings per share for the year amounted to 8c0 (9c9 if adjusted for VRS and one-off items) as against 11c1 in 2005 (10c6 if adjusted for one-off items). Moreover, following an interim dividend of 1c5 (net of taxation) paid on 27th October 2006, Maltacom’s Board of Directors is recommending the payment of a final dividend of 5c0 (next of tax) per ordinary share (2005: 4c5) for approval of the shareholders at the next Annual General Meeting to be held on 30th May 2007.

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Back to trading on the Malta stock exchange, Simonds Farsons Cisk was another positive performer. During the week, its Board of Directors announced that it will meet on 18th April 2007 to consider and declare the distribution of an Interim Dividend on all Ordinary Shares of 12c5, each held by its shareholders on the Register, as on Monday 30th April 2007. The equity gained 2.4% over the week trading 4,772 shares across five transactions.

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In the banking sector, FIMBank was the only equity to move higher from last week’s closing prices. The share price added 1.05% over strong activity, as 203,200 shares changed hands across twelve transactions, to close at US$1.92.

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Within the same sector, both HSBC Bank Malta (HSBC) and Bank of Valletta (BOV) closed in the red, with the former shedding 0.48% while the latter lost 0.28%. HSBC had 65,727 shares trade across sixty-six transactions while BOV traded 41,410 shares over forty deals. The equities closed at Lm1.871 and Lm3.60 respectively.

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Malta International Airport had two trades registered over the trading week. 900 shares were traded in all as its share price declined by 2c or 1.45% to close at Lm1.36. In addition, Middlesea Insurance lost 0.89% in Thursday’s session over a single transaction of 50 shares, to close 1c7 lower at Lm1.903.

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International Hotel Investments was amongst the active equities, trading 10,200 shares across two transactions in the last session of the trading week,. The equity dropped Eur0.02 to close 1.71% lower at Eur1.15. Similarly, GlobalCapital ended in negative territory. Nine trades were performed in the equity with its share price declining by 2.5% and close at Lm1.95.

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A single transaction of 1,085 was also registered in Grand Harbour Marina shares in Monday’s session, however the equity price remained stable at Lm0.70.

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Within the local bond market, 41 transactions were executed in corporate bonds for a value of Lm174,315 while 74 transactions were performed in Malta government stocks for a turnover of Lm404,423.   

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This article which was compiled by Jesmond Mizzi Financial Services Limited (JMFS) does not intend to give investment advice and the contents therein should not be construed as such. JMFS is licensed to conduct investment services by the MFSA. 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 please contact JFMS at 67/3 South Street Valletta or on tel:  21224410 or email [email protected]