BOV share price at highest level since April 2011

Bank of Valletta plc’s equity continued to advance and gained a further 1.7% today to close at €2.34 – its highest level since 11 April 2011. A total of 12,215 shares changed hands today ahead of the publication of the Bank’s Interim Directors’ Statement due to be issued in the coming weeks. This announcement will provide an update to the market on BOV’s performance since the half-year ended 31 March 2013.

Crimsonwing plc shares also feature amongst today’s positive performing equities with a further 3.2% jump to a new all-time high of €0.64 across two deals totalling 10,000 shares. The IT Group yesterday issued its annual report for the financial year ended 31 March 2013 which revealed a record pre-tax profit of just below €1 million. The announcement also revealed that during the first quarter (April to June) of the current financial year (ending 31 March 2014) like-for-like revenues grew by 16% to €5.02 million and like-for-like EBITDA jumped by 44% to €570,000 (2012: €395,000). The Directors also stated that the trading outlook remains positive and the Group is well on track to reach the coveted €20 million revenue target during the current financial year. The payment of a final gross dividend of €0.01 per share is being recommended at the forthcoming Annual General Meeting scheduled for 16 October 2013 which may be taken up in the form of either cash or new shares. The cut-off date will be announced at a later date.

New demand also emerged for Malta International Airport plc helped the equity edge 2% higher to regain the €2.04 level across 12,200 shares. The only other positive performing equity today was Simonds Farsons Cisk plc with a minimal increase to the €2.751 level on a single trade of 1,400 shares.

Meanwhile, HSBC Bank Malta plc held on to the €2.72 level on low volumes of 6,000 shares. Also in the financial sector, FIMBank plc maintained the US$1.00 level on a single deal of 1,650 shares. Similarly, no change was registered in the share price of RS2 Software plc at the €1.30 level on volumes of 1,667 shares.

On the bond market, the Rizzo Farrugia MGS Index dropped for the fifth consecutive session to 1,025.727 points as Eurozone yields reached the 1.68% level as recent better-than-expected economic data relieved pressure from European Central Bank (ECB) and other central banks around the world to expand their stimulus measures further.