Crimsonwing drops to 19-month low ahead of results publication

Crimsonwing plc shares traded for the first time in almost a month. The share price dropped 2.8% to a fresh 19-month low of €0.345 across six trades totalling over 22,600 shares ahead of the Group’s full-year results publication next Tuesday 26 July. In their latest communication to the market, Crimsonwing reported excellent progress across all its business units during the three months ended 31 December 2010 as demand for the Group’s solutions, especially in Microsoft Dynamics and E-Business, increased resulting in new client additions. The Directors had also revealed that Crimsonwing Promentum initiated a new consultancy services operation in Belgium during the same period.

On the other hand, the only positive performer of the day was MaltaPost plc. The share price of the postal operator recovered from an intra-day low of €0.98 to regain the €1.00 level representing a minimal rise over the previous close. Four trades totalling 10,000 shares were transacted today with a further 30,000 shares on offer at the closing price.

Low volumes were traded across the three largest banks’ equities with all share prices closing unchanged. Bank of Valletta plc regained the €2.70 level after recovering from an intra-day low of €2.66 across seven trades amounting to just over 7,400 shares. Yesterday the Bank announced the issuance of €40 million Notes carrying a coupon of 4.8% and maturing on 27 August 2018.

One deal was transacted in each of HSBC Bank Malta plc and Lombard Bank Malta plc as both maintained their previous closing levels of €2.87 and €2.67 respectively.

Today week Malta International Airport plc kicks off the interim reporting season with the publication of its 2011 half-year results. It will be followed by HSBC on 29 July, Middlesea Insurance plc on 5 August, FIMBank plc on 10 August and Lombard on 23 August. The other 9 companies with a December year-end, including GO plc, MIDI plc and RS2 Software plc, have not yet announced the publication date of their respective half-year results. The Listing Rules oblige such companies to publish their interim results by the end of August (within two months of end of the accounting period).