Trading activity in BOV this week reaches €0.6 million

The MSE Equity Price Index eased by 0.18% to 3,581.453 points as the declines in HSBC, GO and Farsons outweighed the gain in PG. Meanwhile, three other equities closed unchanged. Download today’s Equity Market Summary.

Trading activity remained dominated by Bank of Valletta plc as the equity closed unchanged at the €0.99 level after recovering from a low of €0.97 (-2%) across volumes totalling 140,808 shares. BOV was the most actively traded equity every single day this week with total trading value exceeding €0.6 million. During this week, BOV’s share price gained 7.6%, resulting in an increase of €40.9 million to BOV’s market capitalisation.

Also among the large companies by market value, Malta International Airport plc closed unchanged at the €5.55 level after recovering from a low of €5.50 (-0.9%) across two trades totalling 889 shares.

APS Bank plc closed unchanged at €0.61 after failing to hold to an intraday high of €0.615 (0.8%) across two deals totalling 11,997 shares. On Thursday 27 April, APS will be publishing its Q1 key financial indicators.

Also in the banking sector, HSBC Bank Malta plc shed 1.9% to the €1.02 level on one deal of 5,000 shares.

GO plc eased by 0.7% to the €2.92 level across two trades totalling 1,315 shares.

Simonds Farsons Cisk plc dropped by 1.4% to the €6.85 level as 350 shares changed hands.

In contrast, PG plc gained 2.6% to the €1.99 level on muted activity.

Today, VBL plc published its 2022 financial results. Revenue more than doubled to €2.32 million (2021: €1.06 million) reflecting growth in rental income from its property portfolio. Meanwhile, VBL also experienced higher cost of sales and net administrative expenses to €2.06 million (2021: €0.89 million). However, as the overall growth in income outweighed the higher costs, operational EBITDA increased by nearly 50% to €0.26 million compared to €0.18 million in 2021. Meanwhile, the financial performance was once again boosted by the net increase in fair value of investment property of €6.87 million (2021: €6.34 million). Overall, VBL posted a pre-tax profit of €6.60 million and a net profit of €6.32 million. Shareholders’ funds increased by 12.7% to €63.6 million, partly reflecting the additional issued share capital during the financial year. Net asset value per share as at 31 December 2022 amounted to €0.2564 compared to €0.2308 as at the end of 2021. The Directors are recommending a dividend of €0.000726 per share (2021: €0.000654) to all shareholders as at close of trading on 2 June 2023.

M&Z plc announced that its Board of Directors is scheduled to meet on Friday 28 April 2023 to consider and approve the financial statements for the year ended 31 December 2022.

The RF MGS Index dropped by 0.14% to 873.101 points. The Eurozone Composite Purchasing Managers Index reached an 11-month high in April aided by increases in employment and new orders and boosted by strong activity in Germany’s service activity. Elsewhere in the US, data showed strong manufacturing activity expansion in April, exceeding expectations. In fact, new sales increased for the first time in six months.

This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any 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.