Crimsonwing registers record interim profits

This morning, Crimsonwing plc published its interim results covering the six months ended 30 September 2013. During the period under review, the Crimsonwing Group registered record revenue of €9.86 million which led to a 34.1% increase in EBITDA as well as a 40% rise in pre-tax profits to an all-time high of €0.77 million. The growth was achieved on the back of some new international contracts. The Directors also reported a positive outlook as they expect the Group to maintain the strong momentum also during the second half of the year. Further details on the results are available at http://rizzofarrugia.com/news-events/2013/interim-results-cw09/. The share price of Crimsonwing advanced by 2.4% to a new all-time high of €0.87.

The share price of RS2 Software plc also performed positively with a 2.1% increase to regain the €2.35 level across thirteen deals totalling 52,604 shares. Recently the IT Company announced that it is in intensive and advanced negotiations to conclude various agreements with new clients whilst also expanding the relationship with existing clients.

Positive movements were also recorded across the financial equities with Bank of Valletta plc edging 0.4% higher to €2.61 across five deals totalling 12,559 shares. Shortly after the close of this morning’s trading session, the Bank published the agenda for the upcoming Annual General Meeting scheduled to be held on 19 December. The agenda comprises resolutions seeking the approval of: (i) the financial statements for the year ended 30 September 2013, (ii) the final dividend of €0.13 per share; (iii) the re-appointment of Deloitte Audit Limited as auditors and (iv) a 1 for 10 bonus issue. The agenda also reveals that the Bank received eleven nominations for the six vacant seats on the Board of Directors.

Likewise, the share price of Lombard Bank Malta plc jumped 1.6% to €1.90 across four deals totalling 9,000 shares. On the other hand, HSBC Bank Malta plc slipped 2.3% lower to €2.54 on a single trade of 3,200 shares.

In the property segment, Plaza Centres plc edged 1.8% higher to €0.57 across 10,000 shares and MIDI plc’s share price climbed by 3.9% to €0.265 across three deals totalling 110,000 shares.

The only other positive performing equity was GO plc as its equity inched 0.3% higher to regain the €1.635 level on volumes of 31,000 shares.

Island Hotels Group Holdings plc shed 3.3% to €0.899 on low volumes of 8,150 shares. Similarly, the share price of Malita Investments plc retreated by 1.7% back to the €0.521 level on a trade of 10,000 shares.

On the bond market, the Rizzo Farrugia MGS Index retreated by 0.1% back to 1,021.713 points as Eurozone yields approached the 1.75% level this morning after an increase in Spain’s inflation rate triggered speculation that inflation across the eurozone will be higher than expected when the relevant statistics are published tomorrow. Nonetheless, by this afternoon, yields slipped back to 1.71% after the publication of disappointing data in connection with the eurozone’s money supply and personal credit which further supported the need for extended monetary stimulus.