MSE Trading Report for Week ending 18 December 2020

• The  MSE Equity Total Return Index registered another positive 0.3% increase, as it reached 8,551.786 points – extending its positive rally to eight consecutive weeks. A total of 19 equities were active, nine of which headed north, while another six closed in the opposite direction. Total weekly turnover increased by over €0.6 million to €2.2 million, as 242 transactions were executed.
• This week, Malta Properties Company plc was the most liquid, as it generated a total weekly turnover of €560,764. The equity declined by 1.6% to €0.492, as 1,135,583 shares changed hands across 25 transactions.
• Last Monday, PG plc approved the company’s unaudited financial statements and interim directors’ report for the six months ended October 31, 2020. The group registered a turnover of €60.9 million compared to €58.1 million in the same period last year, representing a growth of 4.8%. An increase in turnover was registered in both Pama and Pavi reflecting their continued popularity.
  • The overall gross profit earned by the group during the first six months of this financial year amounted to €9.6 million, as compared to €9.7 million in October 2019.
  • The operating profit registered as at October 31, 2020 was €7.9 million when compared to the €8.1 million in October 2019 – a slight reduction of 2.5%, whilst the profit before tax was €7.2 million, as compared to €7.3 million of the previous year.
  • After deducting finance costs and taxation, the group registered a profit after tax of €5.1 million, compared to the previous year’s figure of €5.3 million.
  • The cash generated from operating activities during this financial period amounted to €9.4 million, whilst cash used in investing activities was limited to €0.9 million.
  • Bank borrowings, net of cash in hand, continued to be reduced and as at October 31, 2020 stood at €9.4 million.
  • The group’s liquidity position remained healthy, and as a result the directors resolved to retain the same interim dividend payout as last year amounting to €2 million, in respect of the first six months of this financial year ending April 31, 2021.
  • These dividends were paid on December 10, 2020 to all ordinary shareholders on the books of the group as at December 3, 2020.
  • The equity recorded a positive 5.3% movement in price, reaching a six-month high price of €2.00. This was the result of 23 deals involving 63,320 shares, worth €123,887.
  • On a year-to-date basis, PG shares are up by 8.7%.
• In the banking sector, all four equities were active, of which gainers and losers tallied to two-a-piece. Bank of Valletta plc was the most liquid, as total turnover stood at €345,119. The equity declined by €0.04 to €1.00 – equivalent to a 3.9% movement in price. A total of 338,672 shares were spread across 37 transactions.
• Its peer, HSBC Bank Malta plc, lost 0.5% as 87,550 shares changed ownership over 20 deals. The bank ended the week at the €0.95 price-level.
• Malta International Airport plc lost ground, as it closed 1.6% lower at €6.10 – a decline of €0.10 over the week. The equity traded 22 times over a spread of 20,029 shares.
• Last Tuesday, RS2 Software plc held the Extraordinary General Meeting (EGM) where most of the resolutions were approved. However, the company announced that a second EGM will be convened on December 29, 2020 to reconsider and take a fresh vote on the resolution related to the waiver of pre-emption rights.
  • The equity started off the week on a negative note but managed to offset the loss and closed flat €2.06. A total of 41,324 shares changed hands across 21 transactions.
•  Mapfre Middlesea plc registered a double-digit gain of 16%, as 6,250 shares were spread over eight deals. The equity’s price increased by €0.34, ending the week at €2.46.
• Last Monday, MaltaPost plc announced that it shall be holding the Annual General Meeting remotely on February 12, 2021. The equity which was the best performer, closed 18.4% higher at €1.35. Six deals involving 7,000 shares were executed. On a year-to-date perspective, the equity is up by 3.1%.
• Yesterday, Santumas Shareholdings plc announced that the board is scheduled to meet on December 21, 2020, to consider, and if deemed appropriate, approve the company’s interim financial statements for the six months ended October 31, 2020.
• Last Wednesday, Loqus Holdings plc announced that the Annual General Meeting will be held on January 14, 2021.
• The MSE MGS Total Return Index advanced by a further 0.42%, as it closed at 1,149.12 points. Out of 15 active issues, 10 registered gains while another three lost ground. The best performer was the 1.50% MGS 2045 (I) F.I., as it closed 4.6% higher at €118.50. On the other hand, the 5.25% MGS 2030 (I) traded 0.3% lower to €147.00.
• The MSE Corporate Bonds Total Return Index increased by another 0.4%, as it reached 1,097.34 points. A total of 45 issues were active, 22 of which headed north while another eight closed in the red. The 3.75% Premier Capital plc Unsecured € 2026 headed the list of gainers, as it closed 1.5% higher at €101.50. Conversely, the 4.4% Von der Heyden Group Finance plc Unsecured € 2024 lost 2%, ending the week at €100.01.
• In the Prospects MTF market, 10 issues were active. The 5% HH Finance Plc Unsecured Euro Bonds 2023-2028 was the most active, as it generated a total turnover of €33,759.

* Trading commenced on January 7, 2020

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. The Company is licensed to conduct investment services by the MFSA and is a Member of the Malta Stock Exchange and a member of the Atlas Group. 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]