MSE Daily Trading Report, 28 April, 2020

The MSE Equity Total Return Index extended its positive trend as it closed 0.14% higher at 8,261.004 points. Nine equities were active, of which four headed north while another three closed in the opposite direction. A total turnover of €398,668 was generated over 47 transactions.

Malta International Airport plc registered the highest liquidity as total turnover stood at €260,206. Price declined by 0.99% to €5.00 as 52,018 shares changed hands over 18 transactions.

In the banking industry, three equities were active. Three deals involving 17,814 Bank of Valletta plc shares dragged price 0.47% lower to €1.06. A total turnover of €18,883 was generated.

Meanwhile, HSBC Bank Malta plc and Lombard Bank Malta plc were both active but closed unchanged at €1.00 and €2.10, respectively. The former generated a total turnover of €28,586 as seven deals involving 28,500 shares were executed. The latter traded once over 9,000 shares, worth €18,900.

The top performer was Simonds Farsons Cisk plc as a sole deal of slim volume pushed price to €8.30. This translated into a 2.47% increase in price. A total turnover of €1,187 was recorded.

In the property sector, Malita Investments plc advanced by 2.35% as 7,500 shares were spread over two deals. Total turnover amounted to €6,525 as the equity closed at €0.87.

RS2 Software plc registered a positive 0.97% change in price as it closed at €2.08. Eight deals involving 20,500 shares were executed, worth €40,976.

Yesterday evening, the company announced the approval of the audited consolidated financial statements for the financial year ended December 31, 2019. These shall be submitted for shareholders’ approval during the forthcoming Annual General Meeting (AGM), to be held when the situation permits.

The group’s revenue increased by 14% from the previous year, as it stood at €22.1 million.  RS2’s strategic shift from providing perpetual licences of its platform to managed, merchant acquiring and issuing services was a successful one. This is since a 129% increase in processing revenue was generated in 2019, which reflects additional revenue from new and existing clients from the implementation and transactions processing fees.

A €0.2 million increase in gross profit was recorded as it amounted to €7 million. Administrative expenses were up by 42% as a result of the strengthening of the administrative functions at the Head Office, the United States and Germany.  The group’s assets increased by 12% to €31.8 million – of which €2.6 million is an effect if the adoption of IFRS 16. Meanwhile, equity saw a 22% declined as it stood at €14.1 million, which is mainly due to the increase in short-term investment in the US.

No dividends shall be recommended for the year ended December 31, 2019.

Retails conglomerate, PG plc, increased by 0.54% to €1.85. This was the outcome of four transactions involving a mix of 10,950 shares. Total turnover amounted to €20,228.

BMIT Technologies plc headed the list of fallers with a 3.23% decline in price. The equity closed at €0.48 as 6,621 shares changed hands across three transactions.

Plaza Centres plc approved its consolidated financial statements for the year ended December 31, 2019. The group registered a strong financial performance as average occupancy increased by three percentage points, reaching 91% in 2019. In line with this positive performance, group registered an 8.56% increase in revenue, when compared to the previous year, as it amounted to €3.6 million.

Earnings before interest, taxation, depreciation and amortisation also registered a 10.8% increase from 2018, as it stood at €2.9 million. The group’s profit before tax was up by 19% to €1.9 million. Likewise, the earnings per share increased from 3c88 to 4c81.

During the annual general meeting, to be held on July 28, 2020, the directors shall be recommending a final net dividend of €320,000 to all shareholders. This amounts to a total net dividend of €0.0113 to be proposed. Dividend is lower when compared to prior year which is mainly due to the current Covid-19 pandemic.

The equity did not record any trading activity.

Grand Harbour Marina plc announced the approval of the financial statements for the period ended December 31, 2019, to be submitted for shareholders’ approval during the next AGM. Total revenue declined by 13% to €4.12 million due to the decreases in pontoon and yacht visitors. This was mainly the impact of one superyacht that has been moored at GHM throughout 2019 and left in January 2019. Conversely, while the group’s share of revenues at IC Cesme stood at €1.95 million in 2019, translating into a €0.8 million increase from the previous year.

Meanwhile, earnings before interest, tax, depreciation and amortisation increased to €1.7 million – equivalent to a 10% increase from 2018’s figure. A €0.2 million decline in profit before tax was recorded as it amounted to €0.4 million. No dividend was paid during the year

No trading activity was recorded.

In the Sovereign Debt market, out of 11 active issues, six advanced while another two closed in the red. The top performer was the 4.3% MGS 2033 (I) as it closed 1% higher at €151.50. Conversely, the 5.1% MGS 2022(I) lost 0.15%, ending the session at €111.80.

In the Corporate Debt market, 32 issues were active, of which registered gains while another six lost ground. The 5% Mediterranean Investments Holding plc Unsecured € 2022 headed the list of gainers with a 5.98% increase, to close at €97.50. On the other hand, the 5% Dizz Finance plc Unsecured € 2026 and the 3.8% Hili Finance Company plc Unsecured € 2029 both closed 1.04% lower at €95.00.

In the Prospects MTF market, all four active issues closed unchanged.

 

The Equities traded today were:

Symbol Code	Volume Traded	Value Traded	Trades	Closing Price	% Change
BOV	17,814	18,882.84	3	1.060	-0.47
HSB	28,500	28,586.00	7	1.000	0.00
LOM	9,000	18,900.00	1	2.100	0.00
SFC	143	1,186.90	1	8.300	2.47
MIA	52,018	260,205.90	18	5.000	-0.99
RS2	20,500	40,976.00	8	2.080	0.97
MLT	7,500	6,525.00	2	0.870	2.35
PG	10,950	20,227.50	4	1.850	0.54
BMIT	6,621	3,178.08	3	0.480	-3.23

The Corporate Bonds traded today were:

	Closing Price	% Change
5% Mediterranean Investments Holding plc Unsecured € 2022	97.500	5.98
5.3% United Finance Plc Unsecured € Bonds 2023	102.000	0.00
5.1% 1923 Investments plc Unsecured € 2024	98.500	0.00
4.25% Best Deal Properties Holding plc Secured € 2024	99.000	0.01
5.75% International Hotel Investments plc Unsecured € 2025	100.000	0.00
4.5% Hili Properties plc Unsecured € 2025	97.500	1.00
4.35% Hudson Malta plc Unsecured € 2026	102.000	0.99
4.25% Corinthia Finance plc Unsecured € 2026	100.000	0.00
4% International Hotel Investments plc Secured € 2026	100.000	0.50
4% Merkanti Holding plc Secured € 2026	99.000	-0.99
5% Dizz Finance plc Unsecured € 2026	95.000	-1.04
3.75% Premier Capital plc Unsecured € 2026	100.000	0.00
3.25% AX Group plc Unsec Bds 2026 Series I	100.000	0.00
4% International Hotel Investments plc Unsecured € 2026	98.400	0.03
3.75% Mercury Projects Finance plc Secured € 2027	99.500	0.76
4.35% SD Finance plc Unsecured € 2027	100.000	0.00
4% Eden Finance plc Unsecured € 2027	100.000	0.00
4.4% Central Business Centres plc Unsecured € 2027 S1/17 T1	99.400	1.43
4.5% Grand Harbour Marina plc Unsecured € 2027	100.500	0.00
3.5% Simonds Farsons Cisk plc Unsecured € 2027	107.000	2.88
4% Stivala Group Finance plc Secured € 2027	100.000	-0.01
3.75% Bortex Group Finance plc Unsecured € 2027	99.960	0.46
3.85% Hili Finance Company plc Unsecured € 2028	95.000	0.00
4% Exalco Finance plc Secured € 2028	100.000	0.00
4.15% Phoenicia Finance Company plc Unsecured € 2023-2028	99.000	0.00
4% SP Finance plc Secured EUR Bonds 2029	99.000	0.00
3.65% Stivala Group Finance plc Secured € 2029	100.000	0.00
3.8% Hili Finance Company plc Unsecured € 2029	95.000	-1.04
4% MeDirect Bank (Malta) plc Sub Unsecured € 2024-2029	100.000	1.01
3.5% Bank of Valletta plc € Notes 2030 S1 T1	100.050	-0.20
3.5% Bank of Valletta plc € Notes 2030 S2 T1	99.990	-0.01
3.75% Bank of Valletta plc Unsecured Sub € 2026-2031	100.150	0.15

The Government Stocks traded today were:

	Closing Price	% Change
5% MGS 2021(I)	106.450	-0.13
5.1% MGS 2022(I)	111.800	-0.15
5.25% MGS 2030 (I)	146.520	0.40
4.65% MGS 2032 (I)	151.000	0.67
4.45% MGS 2032 (II)	148.000	0.68
4.3% MGS 2033 (I)	151.500	1.00
4.1% MGS 2034 (I)	151.000	0.67
2.5% MGS 2036 (I)	127.000	0.79
2.1% MGS 2039 (I)	130.000	0.00
3% MGS 2040 (I)	139.000	0.00
2.4% MGS 2041 (I)	138.000	0.00

The Prospects MTF bonds traded today were:

	Closing Price	% Change
5.5% IG Finance plc € Unsecured 2024-2027	99.500	0.00%
5.75% Pharmacare Finance plc Unsecured EUR Bonds 2025-2028	100.000	0.00%
5.5% Testa Finance plc € Bonds 2029	98.750	0.00%
5% Busy Bee Finance Company plc Unsecured € 2029	101.000	0.00%

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 [email protected].