MSE Trading Report weekly round-up for the week ending 14th August 2008.

August 15, 2008

RS2 announce 92% increase in revenue

The Malta Stock Exchange Index (MSE) closed at 3,807.389 points, gaining 1.10 per cent on the week but still almost 23 per cent down year to date. This week, eleven equities were negotiated, with three equities closing in positive territory, four in negative territory and another four remaining unchanged. During the week, HSBC Bank Malta plc was the best performer, whilst GO plc lost most ground.

A total of two hundred and eighty seven trades were registered on the stock exchange, with a total turnover of over EUR 9.27 million, including put-through trades of EUR 131,098. In the equity market one hundred fifty four deals were executed for a total value of EUR 570,763. In the corporate bond market fifty six deals were carried out, for a value of over EUR 1.76 million, whilst in the government bond market, fifty eight deals were executed for a total value of just under EUR 5.30 million. In the Treasury Bills market, six deals were executed for a total value of over EUR 1.50 million.

In the banking sector, the share price of Bank of Valletta plc lost ground during the week. The equity closed at EUR 4.15, falling by 3.49 per cent, on a turnover of 44,876 shares traded over forty six deals. On the other hand, the share price of HSBC Bank Malta plc registered a rise of 8.62 per cent, as it closed the week at EUR 3.15, a rise of EUR 0.25 from last week, with 37,533 shares traded over forty five deals. HSBC traded at a high of EUR 3.18 and a low of EUR 2.95. FIMBank plc experienced a rise in its share price, closing the week at USD 1.886 and rising by 0.05 per cent on the week, or by EUR 0.001, on a turnover of 28,237 shares traded over five deals. Lombard Bank plc registered a fall in its share price. The equity closed at EUR 2.899, therefore decreasing by EUR 0.001 on the week, with 3,000 shares changing hands in three deals.

Maltapost plc continued to retain its share price of EUR 0.75, as 40,264 shares traded over ten deals. On the other hand, Malta International Airport plc traded only twice as 970 shares changed hands. The equity closed at EUR 3.04, therefore maintaining its previous share price. Grand Harbour Marina plc closed the week at its previous share price. The equity closed at EUR 2.30, as 6,900 shares changed hands over four deals. Crimsonwing plc also retained its previous share price during the week, as it closed the week at EUR 0.53, with 3,800 shares changing hands on just two deals. During the week Crimsonwing issued the Interim Directors’ Statement in which they announced that for the first three months (April to June 2008), the first quarter of the Financial Year, the Company has achieved its performance objectives. First quarter profits are in line with expectations and revenue has increased by 72% when compared with the first quarter of the previous financial year. The Company added that there is no reason to believe that the targets set for this financial year will not be achieved.

GO plc was the worst performer during the week. The equity closed the week at EUR 2.35, thus losing 6 per cent on the week. GO traded 55,895 shares over twenty three deals, for a total turnover of EUR 137,658. International Hotel Investments plc also experienced a loss in its share price during the week. The closing price was EUR 1.05, EUR 0.01 less than last week, with 15,579 shares changing hands on four deals.

During the week, RS2 Software plc was the only other equity which registered a rise in its share price. The closing price was EUR 0.82, EUR 0.005 higher than last week, with 19,700 shares changing hands in ten deals. During the week, RS2 Software plc announced that at the meeting held on the 12th August, 2008, the Board of Directors approved the Half-Yearly Financial Statements for the period ended 30th June 2008. RS2 announced a rise in profits after tax of 133% to €2.35 million, and also an increase in total revenues of 92% to €5.3 million. The Directors reported that the Company did not anticipate that the performance of the second half of the year can match that of the reporting period to the same extent. However, the Directors are confident that the profit for the full year ending 31st December 2008 will meet its projections.

During the week, Santumas Shareholdings plc announced that at a meeting held on 12th August 2008, the Board of Directors resolved to distribute an ordinary net dividend of €0.0466 (Lm0.02) per share in respect of the year ended 30 April 2008 and additionally a special dividend of €0.2334 (Lm0.10) per share to those shareholders on the Company Register on 13th August 2008. This will amount to a total net dividend of €466,249.28 (Lm 200,160.81).

This article which was complied 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 JMFS at 67/3, South Street, Valletta or on Tel: 21224410 or email [email protected].