Tigné Mall posts significant growth in performance

 

The MSE Equity Price Index advanced by 0.57% to 3,697.532 points as various companies closed in positive territory. On the other hand, MIA and APS trended lower whilst GO plc stayed at the €3.04 level on a total of 8,200 shares. Overall trading volumes in equities improved to €0.1 million. Download today’s Equity Market Summary.

Tigné Mall plc advanced by 1.4% to recapture the €0.70 level albeit on just 1,750 shares. Today, the company published its interim results showing record performance as revenues surged to €3.84 million whilst net profit reached €1.6 million. Shareholders as at close of trading on 17 August will received a net interim dividend of €0.013 per share.

Within the same segment, Trident Estates plc (1,816 shares) rallied by 9.6% to the €1.48 level whilst Malta Properties Company plc (3,500 shares) climbed almost 5% to regain the €0.52 level.

A single deal of 10,000 shares lifted the share price of FIMBank plc 2.7% higher to the USD0.19 level.

Also in the banking sector, Bank of Valletta plc advanced by 3.4% to the €0.90 level on a total of 7,500 shares.

The other positive performing equity today was HSBC Bank Malta plc with a gain of 1.3% to the €0.785 level across 27,840 shares.

In contrast, Malta International Airport plc eased by 0.8% back to the €5.95 level across 5,100 shares.

APS Bank plc retracted by 1.5% to the €0.65 level on 8,676 shares.

Today, Hili Properties plc announced that it acquired 75% of a company which owns the MIRO Office Building located in Bucharest, Romania – with the option to buy the remaining 25% shareholding in the next two years. MIRO is a newly built ‘A Class’ mixed-use property with approximately 23,000 sqm of leasable area and a 1,700 sqm outdoor plaza. Hili Properties noted that this latest acquisition will increase the value of its property portfolio from €173.8 million to €234.2 million and extends the total leasable area to approximately 119,000 sqm across 23 properties.

The RF MGS Index rebounded slightly to 957.686 points as tensions in the Taiwan Strait remained tense after China reportedly carried out live-fire drills in the seas near Taiwan whilst some of its missiles landed in Japan’s exclusive economic zone waters.

 

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.