Daily Market Highlights (01.04.2022)
GO registers record revenues of €193.7m
The MSE Equity Price Index rebounded by 0.37% to 3,634.200 points as the gains in the share prices of GO, MIA, MPC and Loqus outweighed the decline in BMIT Technologies plc which dropped by 2% to the €0.50 level across 60,500 shares. Meanwhile, seven other companies remained unchanged as overall trading activity eased to €0.12 million compared to €0.19 million on Wednesday. Download today’s Equity Market Summary.
GO plc climbed by 3.8% to regain the €3.30 level across 9,822 shares. On Wednesday, the company published its 2021 full-year financial results. Revenues increased by 4.6% to a record of €193.7 million (2020: €185.2 million) reflecting growth across all three operating segments. The operating profit increased by 10.2% to €23.5 million whilst the EBIT margin improved 12.1% compared to 11.5% in 2020. The 2021 financial performance was adversely impacted by the non-recurrence of a €3.1 million gain recorded in 2020 after the Group disposed of its shares in Forthnet S.A. Moreover, throughout 2021, GO incurred higher net finance costs as these amounted to €5.63 million compared to €3.5 million in 2020. Overall, GO reported a decline in net profit to €10.4 million (2020: €14.1 million) which, in turn, translates into a return on average equity of 9.33%. The Directors of GO are recommending the payment of a final net dividend of €0.09 per share. Coupled with the interim net dividend of €0.07 per share paid in August 2021, the total net dividend for the year amounts to €0.16 per share which is unchanged compared to 2020. The final net dividend is payable on 27 May 2022 to all shareholders as at the close of trading on 21 April 2022 subject to shareholders’ approval at the upcoming Annual General Meeting scheduled to be held remotely on 25 May 2022.
Also among the large companies by market value, Malta International Airport plc climbed by 0.9% to the €5.70 level on two deals totalling 1,500 shares.
A single deal of 8,000 shares pushed the share price of Malta Properties Company plc 2% higher to the €0.52 level across 8,000 shares.
The other positive performing equity today was Loqus Holdings plc as it surged by 71.2% to an over six-week high of €0.19 across on 38,679 shares.
Bank of Valletta plc retained the €0.77 level on five deals totalling 28,414 shares.
Also in the banking sector, HSBC bank Malta plc (4,263 shares) and FIMBank plc (3,000 shares) remained at the €0.83 and USD0.25 levels respectively.
International Hotel Investments plc kept the €0.60 level on a single deal of 6,304 shares.
The ordinary shares of RS2 Software plc retained the €1.60 level on two deals totalling 3,495 shares.
Tigne’ Mall plc ended the session unchanged at the €0.70 level after recovering from an intra-day low of €0.65 (-7.1%). A total of 1,250 shares changed hands.
Hili Properties plc closed unchanged at €0.24 level on a single deal of 4,300 shares. Earlier this week, the company announcement the acquisition of a shopping complex in Latvia for an amount of €20 million.
The RF MGS Index moved higher for the first time in five sessions as it advanced by 0.23% to 1,020.582 points. Preliminary estimates showed that the eurozone annual inflation rate in March surged to an all-time high of 7.5%. In the US, non-farm payrolls growth missed market forecasts, but the unemployment rate fell to 3.6% in March.
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.