BMIT reports 10.3% revenue growth but lower pre-tax profit of €3.1 million
Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.
The MSE Equity Price Index snapped a four-session winning streak as it eased by 0.24% to 4,137.4 points, with the decline in BOV, which traded for the first time without the entitlement to its interim dividend, outweighing the increases in GO, MIA and PG. The preference shares of RS2 also closed lower, while a further five equities ended the session unchanged as total trading value halved to €0.22 million. Download today’s Equity Market Summary.
BMIT Technologies plc published its interim financial statements for the six months ended 30 June 2026, reporting revenue of €20.2 million, up 10.3% from €18.3 million a year earlier. The Directors attributed the increase mainly to continued growth in Data Centre & Managed IT Services, including cloud, managed and professional services, as well as a stable contribution from Mobile Network Towers & Property Holdings. They also noted that the comparative period included only one month of 56Bit Limited’s results following its acquisition on 30 May 2025.
Operating costs excluding depreciation and amortisation rose to €14.4 million from €12.1 million, mainly reflecting higher direct costs, the full-period impact of 56Bit, and ongoing investment in the Group’s service and infrastructure platform. EBITDA fell to €5.8 million from €6.3 million, while operating profit eased to €3.8 million from €4.3 million. After a €0.6 million share of profit from associates and higher finance costs of €1.3 million, profit before tax declined to €3.1 million from €3.4 million, while profit for the period slipped to €1.7 million from €1.9 million. Total assets increased to €99.3 million and shareholders’ funds edged up to €12.9 million. BMIT shares did not trade today, having last closed at €0.254.
Bank of Valletta plc traded ex-dividend and fell 2.3% to €2.15, after opening 1.4% lower at €2.17. BOV was the most active equity for the third consecutive session, representing 31.1% of total trading value across eleven deals.
GO plc was today’s best performer as it surged by 5.6% to close at the day’s high of €2.64, with the €60,874 that changed hands amounting to four times its 90-day average daily trading value.
Malta International Airport plc advanced by 0.8% to the €6.30 level across ten deals, with only the opening trade of 82 shares having been executed at €6.25.
PG plc rose by 1.3% to the €1.57 level on a single deal worth €7,850.
Meanwhile, HSBC Bank Malta plc traded flat at the €1.46 level across three deals worth just over €23,000.
APS Bank plc also traded flat, at the €0.59 level, on a single deal of just €177. Today, APS announced the commencement of a share buy-back programme of up to 5,000,000 ordinary shares at prices ranging between €0.45 and €0.75 per share, to be funded out of distributable profits and running until 6 August 2027 or the conclusion of the 2027 annual general meeting, whichever is the earlier. The Board explained that the programme, which was approved by shareholders at the Annual General Meeting held on 6 May 2026, is intended to reinforce and enhance shareholder value through more effective and efficient capital management, with the shares acquired to be retained as treasury shares.
AX Real Estate plc likewise traded flat at the €0.49 level, on a single deal worth €12,250. Today, AX Real Estate announced that last week it purchased a total of 300,000 of its own shares at €0.49 per share under its buy-back programme.
Lombard Bank Malta plc closed unchanged at the €0.68 level after opening 2.2% higher at €0.695, with less than €900 changing hands, while MaltaPost plc also ended the session unchanged at the €0.49 level, having opened 2.0% lower at €0.48.
In contrast, shares of RS2 plc closed 1.5% lower at €0.67.
Plaza Centres plc, whose shares did not trade today and last closed at the €0.84 level, announced following a board meeting held earlier today that it generated revenue of €1.5 million during the first six months of 2026, 6.4% lower than the €1.6 million registered in the comparable period last year, while EBITDA declined by 13.7% to €0.97 million and profit before tax dropped by 19.4% to €0.75 million. Occupancy stood at 90% as at 30 June 2026, with the Directors noting that leasing discussions are ongoing across all vacant areas and that active leasing engagement is expected to support improved performance in the coming months. The Board of Directors resolved to distribute a net interim dividend of €0.0098 per share, amounting to €250,000 and unchanged from a year earlier, payable on 2 September 2026 to all shareholders on the register of members as at 19 August 2026. Shareholders’ funds edged higher to €28.4 million from €28.2 million as at the end of 2025, translating into a net asset value per share of €1.115.
The RF MGS Index advanced for the fourth consecutive session as it rose by 0.30% to 898.1 points. In fact, the German 10-year yield held at 3.11%, its lowest level since 15 July, as Brent oil price remained below USD80 per barrel following losses of around 5% in each of the previous two sessions amid growing optimism that the US and Iran are nearing an interim agreement to reopen the Strait of Hormuz. German inflation had accelerated to a three-month high of 2.8% in July from 2.3% in June, although the pick-up was driven by energy inflation rising to 8.3% from 3.4%, while core inflation edged down to 2.4%.
This report contains only public information and is not to be construed as investment advice or an offer to buy or sell securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.