Daily Market Highlights (15.12.2022)

 PG posts record interim revenues


The MSE Equity Price Index moved higher for the first time in seven sessions as it rose by 0.43% to 3522.961 points. The gains of the ordinary shares of RS2, HSBC and Mapfre outweighed the declines of FIMBank, MPC and Farsons. Meanwhile, seven other equities closed unchanged as overall trading activity improved to €0.14 million. Download today’s Equity Market Summary.

Today, PG plc published its interim financial results for the six-month period ended 31 October 2022. Revenue increased by 13.8% to a new record (at interim stage) of €80.8 million reflecting the higher level of turnover achieved by both the ‘Supermarkets & Associated Retail Operations’ (+14.9% to €67.1 million) and the ‘Franchise Operations’ (+9% to €13.6 million). Meanwhile, operating costs increased by 16.2% to €71.5 million reflecting the overall growth in business as well as the impact of the Group’s decision to absorb an element of the cost price increases to maintain its competitiveness. As a result, the operating profit eased by 0.3% to €9.30 million. Overall, PG’s net profit amounted to €6.10 million, which in turn is 1.7% lower than the €6.21 million figure reported during H1 2021/22. In their commentary, the Board of Directors highlighted the influx of new customers that the business has enjoyed in recent months and reiterated its aim to maintain, and possibly improve upon, the record results achieved during the previous financial year. The equity remained inactive today.

Malta International Airport plc was the most actively traded equity as it closed unchanged at the €5.65 level after failing to hold an intraday high of €5.70 (+0.9%) across ten trades totalling 16,173 shares.

Also among the large companies by market value, Bank of Valletta plc (16,777 shares) and APS Bank plc (5,100 shares) stayed at the €0.84 and the €0.60 levels respectively.

Likewise, GO plc held the €2.70 level on a single trade of 1,000 shares.

GO’s data centre and IT services specialist – BMIT Technologies plc – also closed unchanged at €0.46 on muted volumes.

Within the property sector, Trident Estates plc (3,196 shares) and VBL plc (100 shares) remained at the €1.45 and €0.26 levels respectively.

Meanwhile, Malta Properties Company plc fell by 3.5% to the €0.492 level across three deals totalling 8,691 shares.

Simonds Farsons Cisk plc moved 3.4% lower to the €7.05 level as 520 shares changed hands.

A single trade of 5,490 shares pulled the share price of FIMBank plc 13.6% lower to USD0.19.

In contrast, HSBC Bank Malta plc gained 0.7% to the €0.72 level across four trades totalling 18,470 shares.

Mapfre Middlesea plc climbed 3.2% to €1.60 on three deals totalling 1,787 shares.

The ordinary shares of RS2 Software plc surged by 16.7% to the €1.19 level, albeit on trivial volumes.

The RF MGS Index fell by 0.36% to 894.440 points as the major central banks indicated that further monetary policy tightening will be required, despite the fact that signs of easing inflation are emerging. Following yesterday’s 50 basis point rate hike by the Federal Reserve, both the ECB and the Bank of England followed in suit in raising interest rates by 50 basis points at their respective monetary policy meetings. Today, ECB President Christine Lagarde stated that interest rates will have to rise significantly at a steady pace. The ECB also said that it will begin to reduce the size of its balance sheet as from March 2023.


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.