Daily Market Highlights (09.03.2023)

APS and BMIT report profitable performance, declare dividends


The MSE Equity Price Index eliminated all of yesterday’s gains as it fell 0.16% to 3,627.586 points as the declines in six equities which outweighed the gains in BMIT, Mapfre and Tigné Mall. Meanwhile, four other equities remained unchanged as total trading activity improved further to a new 3-week high of €0.36 million. Download today’s Equity Market Summary.

APS Bank plc shed 3.2% to the €0.60 level across seven trades totalling 51,165 shares. Today, APS Bank published their financial statements for the year ended 31 December 2022. APS reported strong growth (+17.6%) in net interest income to €65.1 million and an overall improvement in other income streams. However, the financial performance was dented by the net loss of €10.3 million due to negative movements of financial assets held by APS Funds. Overall, the Group reported a pre-tax profit for the year of €15.7 (2021: €24.1 million). On the other hand, however, the Bank results show a record pre-tax profit of €28.9 million (2021: €23.7 million). Shareholders’ funds as at 31 December 2022 amounted to €250.4 million, which translates to a net asset value per share of €0.683. The Directors of APS are recommending the payment of a net final dividend of €0.0174 per share to shareholders as at close of trading on 12 April 2023, subject to approval during the upcoming Annual General Meeting which is scheduled to be held on 16 May 2023. Shareholders will have the option to receive the dividend either cash or in new ordinary shares at an attribution price of €0.57 per share.

BMIT Technologies plc advanced by 4.4% to a four-month high of €0.47 across thirteen trades totalling 82,545 shares. Yesterday evening, BMIT published their financial statements for the year ended 31 December 2022. Revenues increased by 1.9% to a record of €25.8 million which translated into a higher operating profit of €8.59 million. Overall, BMIT reported a net profit figure of €5.36 million (+5.8% over FY2021) which translates into a return on average equity of 49% (2021: 45.1%). The Directors of BMIT are recommending the payment of a net dividend of €0.0246 per share which is 1.5% lower than the net dividend of €0.02497 per share in respect of the 2021 financial year. Shareholders as at close of trading on 4 April 2023 will be entitled to receive the dividend which is expected to be paid on 12 May 2023 subject to shareholders’ approval during the upcoming Annual General Meeting which is scheduled to be held on 10 May 2023.

Tigné Mall plc was today’s best performing equity as it rose 7.1% to the €0.75 level on a single trade of 4,000 shares.

One deal of 2,355 shares pushed the share price of Mapfre Middlesea plc 4.5% higher to a five-month high of €1.62.

GO plc was today’s most actively traded equity as it held the €3.10 level on two trades totalling 50,000 shares. GO will be publishing its 2022 Annual Report on 15 March.

HSBC Bank Malta plc closed unchanged at the €1.04 level after opening at a low of €1.03 (-1%) across volumes of 19,310 shares.

Also within the banking sector, Lombard Bank plc held at the €1.00 level on two deals totalling 10,000 shares.

Trident Estates plc traded flat at the €1.30 level across three deals totalling 35,062 shares.

Bank of Valletta plc eased by 0.5% to the €0.925 level as 45,700 shares changed hands.

Malta International Airport plc shed 0.9% the €5.65 level across two trades totalling 600 shares.

One deal of 11,100 shares pulled the share price of Hili Properties plc down by 3.5% to the €0.22 level.

Main Street Complex plc dropped by 2.2% to the €0.45 level on a single trade of 6,400 shares.

PG plc lost 1% to the €2.00 level on one deal of 1,500 shares.

The RF MGS Index gained 0.18% to 866.112 points as eurozone yields remained volatile. Meanwhile in the US, initial jobless claims climbed to a 10-week high of 211,000, indicating that the tighter monetary policy is already having an impact on the economy. However, the full report on US employment figures for February will be published on Friday and would give a clearer picture on the strength of the US labour market amid the aggressive policy stance of the Federal Reserve.


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.