M&Z profits decline despite revenue growth
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 advanced by 0.32% to 4,214.9 points as the gains in APS, BOV, Farsons, and FIMBank outweighed the declines in Santumas, Quinco, VBL and Malita. A further two equities closed unchanged as total trading value amounted to €0.27 million. Download today’s Equity Market Summary.
Today, M&Z plc published its interim financial statements for the six months ended 30 June 2026, reporting revenue of €15.8 million, up 4.8% from €15.1 million in the same period last year. However, operating profit declined by 16.7% to €2.1 million due to higher supplier costs and increased administrative expenses. Profit before tax fell by 15.1% to €2.0 million and profit for the period eased by 13.5% to €1.3 million. The Board of Directors declared a net interim dividend of €396,000, or €0.009 per ordinary share. M&Z shareholders as at close of trading on Thursday 27 August will receive the dividend by Wednesday 30 September 2026.
HSBC Bank Malta plc traded flat at the €1.46 level across 56,752 shares.
Also among the large companies by market value, Malta International Airport plc stayed at the €6.60 level across 388 shares.
Bank of Valletta plc edged 0.5% higher to €2.20 across 33,081 shares.
APS Bank plc advanced by 2.7% to €0.575, although most of the 47,200 shares that traded exchanged hands at €0.565 (+0.9%).
Simonds Farsons Cisk plc gained 1.7% to €6.10, although most of the 1,888 shares that traded exchanged hands at the previous closing price of €6.00.
FIMBank plc climbed by 4.0% to USD0.26, its highest close since September 2023.
Meanwhile, Santumas Shareholdings plc dropped by 7.3% to €1.15 across 54,759 shares. Today, Santumas published its Annual Report and financial statements for the year ended 30 April 2026. Total revenue rose by 5.8% to €1.9 million as investment income climbed 61.1% to €1.2 million, offsetting narrower fair-value gains on the company’s financial assets and investment properties. Profit before tax advanced by 4.6% to €1.7 million, although a higher tax charge of €0.34 million, against €0.21 million a year earlier, left profit for the year 4.0% lower at €1.3 million. The net asset value per share as at 30 April 2026 stood at €2.121.
Malita Investments plc eased by 0.5% to €0.374 across 12,400 shares. Yesterday, Malita announced that its Board of Directors is scheduled to meet on Thursday 27 August to consider the approval of the interim financial statements for the six-month period ended 30 June 2026.
VBL plc fell by 3.5% to €0.22, although most of the 18,000 shares that traded exchanged hands at €0.20 (-12%). Yesterday, VBL published its interim financial statements covering the six-month period ended 30 June 2026. Revenues increased by 16.8% to €2.49 million driven by improvements in rental income reflecting growth in number of units operated and the positive impact from the tourism sector. Operating profit surged by 25% to €0.59 million compared to €0.47 million in the corresponding period last year. VBL recorded a net profit for the period of €0.28 million compared to €0.12 million in the first half of 2025. When compared to the end of 2025, total equity also remained relatively unchanged at €69.4 million, which translates into a net asset value per share of €0.2784.
Quinco Holdings plc shed 9.1% to €0.80 on a single trade of 1,788 shares.
Yesterday, Grand Harbour Marina plc published its interim financial statements for the six months ended 30 June 2026. Revenue rose by 3.0% to €2.6 million and operating profit advanced by 8.6% to €0.91 million. However, the financial performance was dented by the absence of the share of profit from the associate IC Çeşme Marina, in contrast to the share of profit of €1.19 million in the same period last year. Profit before tax fell to €0.51 million from €1.6 million and profit for the period declined to €0.28 million from €1.4 million.
Today, RS2 plc announced that its fully owned subsidiary RS2 Smart Processing has partnered with PXP Financial to deliver end-to-end managed acquiring services and card scheme processing powered by RS2’s BankWORKS® platform. The project establishes a robust acquiring infrastructure supporting Card Present (CP) and Card Not Present (CNP) transaction processing across Visa, Mastercard, and Diners Club. Through integration with the RS2 Online Switch, the platform enables real-time authorisation, dynamic interchange prediction, scheme fee calculation, and daily clearing and settlement. The solution supports same-day clearing, merchant settlement, integrated dispute management, and automated reconciliation feeds. The service supports PXP’s PSP acquiring operations across more than 30 European markets, including the United Kingdom, Germany, France, Italy, Spain, the Netherlands, the Nordics, and Central and Eastern Europe.
The RF MGS Index slipped by 0.09% to 890.7 points, giving back part of the gains registered over the previous four sessions, as bid prices eased across almost all the Malta Government Stocks. Today, German data pointed to firmer growth in the euro area’s largest economy, with the Ifo Business Climate Index rising to 88.8 in August, its highest level in a year and comfortably ahead of market expectations.
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.