Farsons slumps for second successive day

The share price of Simonds Farsons Cisk plc closed lower for the second successive day to rank as the week’s worst performer with an 8.7% decline. The equity slumped another 5.5% during today’s session to close at the €1.635 level – marginally above its 2010 low of €1.63. Last week the Group reported an improved turnover for the first six months of the current financial year which resulted in a 19.4% increase in profitability. The Directors declared an interim dividend of €0.0133 per share which will be paid on 22 October 2010. Further details of financial results available at https://rizzofarrugia.com/news-events/2010/interim-results-sfc11/.

Malta International Airport plc also closed in negative territory today in spite of last Monday’s announcement of a 15.4% increase in passenger movements during September. During the first nine months of the year, MIA recorded a 12.4% growth in passengers. MIA’s share price reversed the recent gain as the equity retreated by 1.9% to the €1.50 level across 3,400 shares.

Elsewhere in the market, Bank of Valletta plc edged 0.3% higher to €3.27 to close the week with a 0.9% gain. Meanwhile HSBC Bank Malta plc failed to recover from earlier declines as it ended the week 1.8% lower at the €2.805 level.

The only other active equity, FIMBank plc, inched 1.1% higher to regain the US$0.96 level on volumes of 5,690 shares. Details of the bond issue, denominated in both euros and US Dollar available at https://rizzofarrugia.com/news-events/2010/details-of-new-bond-issue-6/.

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