Daily Market Highlights (05.08.2022)

BMIT reports slight drop in profitability


The MSE Equity Price Index slipped by 0.91% to 3,663.870 points as the declines in six equities offset the gains in Farsons and Harvest. Meanwhile, six companies closed the day unchanged as overall trading activity in equities improved further to €0.11 million. Download today’s Equity Market Summary.

Today, BMIT Technologies plc published its interim results showing a marginal drop in revenues to €12.6 million (H1 2021: €12.8 million) whilst net profit eased to €2.64 million compared to €2.75 million in H1 2021. The Directors explained that despite the prevailing economic challenges, the company managed to register a relatively positive performance driven by increased sales focus on cloud and managed services. BMIT reiterated its commitment to further investments in its infrastructure that will strengthen its position as one of Malta’s leading technology platforms and solutions providers. Indeed, BMIT is exploring opportunities that will leverage the company’s expertise in managing mission-critical technology and infrastructure. Moreover, BMIT will continue strengthening its diversification plans, both in terms of offering and customers. In fact, the company’s objective for market expansion within and beyond Malta remains a priority in support of its strategies. The equity remained inactive today.

Also in the technology segment, Harvest Technology plc advanced by 1.6% to the €1.28 level albeit on trivial volumes.

Low trading activity also took place in the equities of Simonds Farsons Cisk plc and International Hotel Investments plc. Farsons added 0.7% to the €7.70 level whilst IHI retracted by 0.7% to the €0.745 level.

Bank of Valletta plc and Mapfre Middlesea plc dropped by around 3.3% to €0.87 and €1.70 respectively on light volumes.

A single deal of 20,000 shares forced the share price of Hili Properties plc to move 4.2% lower to the €0.23 level. Yesterday, Hili Properties 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 €234.2 million and extends the total leasable area to approximately 119,000 sqm across 23 properties.

HSBC Bank Malta plc moved back to the €0.76 level (-3.2%) across 10,396 shares.

The other negative performing equity today was PG plc with a drop of 0.9% to the €2.12 level on a total of 5,000 shares.

Meanwhile, Malta International Airport plc held on to the €5.95 level across 4,268 shares.

FIMBank plc (87,500 shares) and RS2 Software plc (5,599 ordinary shares) traded flat at USD0.19 and €1.50 respectively.

Four deals totalling 22,805 shares left the share price of APS Bank plc at the €0.65 level.

MIDI plc stayed at the €0.30 level across 66,666 shares.

Malta Properties Company plc retained the €0.52 level after opening at a low of €0.505. A total of 1,200 shares changed hands.

The RF MGS Index extended yesterday’s gain as it advanced by a further 0.41% to 961.636 points. In Germany, industrial production rose unexpectedly in June whilst in the US, fresh data showed that the number of employed persons continued to increase at a robust pace whilst the average hourly income increased by 5.2% when compared to the same period in 2021.


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.