Daily Market Highlights (18.08.2021)

RS2 posts 70% rise in H1 revenues


The MSE Equity Price Index moved 0.86% lower to 3,878.410 points as four equities traded in negative territory while only BMIT ended the session higher. Meanwhile, BOV, PG and RS2 closed the day unchanged. Overall trading activity remained muted at only €0.06 million. Download today’s Equity Market Summary.

The ordinary shares of RS2 Software plc traded flat at the €1.76 on a single trade of 1,200 shares. Yesterday, RS2 published its interim financial statements for the six-month period ended 30 June 2021. The group’s revenues surged by almost 70% to €18.3 million (H1 2020: €10.8 million) on the back of the considerable increase in business across all segments. RS2 achieved an EBITDA of €3.88 million compared to the negative EBITDA of almost €2 million recorded in H1 2020. Overall, the Group posted a net profit for the period under review of €1.09 million (H1 2020: net loss of €2.3 million). In their commentary, the Directors of RS2 explained that after obtaining the EMI licence from BaFin in May 2021, the Group will undergo a substantial change in its revenue model, as RS2 can now manage merchant funding, provide acquiring services, and issue payment instruments.

Three trades totaling 3,600 shares left PG plc at the €2.28 level. PG will be publishing its 2020/21 annual financial statements on 25 August.

Bank of Valletta plc also ended unchanged at the €0.90 level on four trades totalling 30,320 shares, after recovering from an intraday low of €0.895 (-0.6%).

Also among the large equities by market cap, Malta International Airport plc lost 4.8% to the €6.00 level on a single trade of 220 shares.

HSBC Bank Malta plc eased by 1.3% to the €0.79 level on one deal of 1,603 shares.

Similarly, GO plc moved 1.2% lower to the €3.40 level on two trades totaling 3,172 shares. GO turned ex-dividend yesterday. The interim dividend of €0.07 per share will be paid on 31 August.

LifeStar Insurance plc traded for the first time since its listing in June and lost 7.4% to the €0.50 level albeit on trivial volumes.

Meanwhile, BMIT Technologies plc edged 0.4% higher to the €0.494 level on a single deal of 10,000 shares.

The RF MGS Index lost 0.12% to a two-week low at 1,104.060 points. The eurozone consumer price inflation rate was confirmed at 2.2% year-on-year in July, in line with expectations, but above the European Central Bank’s target of 2%. The low base effect from last year and the reopening of the economy were major contributors to the growth in inflation. Meanwhile in the UK, the annual inflation in July was lower than expected at 2% as the cost of various recreational goods and services increased at a slower pace.