GO generates record H1 operating profit

The MSE Equity Price Index rose by 0.59% to a fresh three-month high of 3,901.586 points on the back of gains in APS, BOV, GO, AX Real Estate and MIA. Meanwhile, three other equities closed unchanged as today’s trading activity amounted to €0.14 million. Download today’s Equity Market Summary.

GO plc surged by 4.3% to an almost one-year high of €2.90 across eight deals amounting to 11,400 shares. Today GO plc published its interim results covering the six-month period ended 30 June 2025. Revenues rose by 9.2% to €123.9 million reflecting the positive contribution from the recently acquired subsidiaries. Total operating costs (net of other income) rose by 6.0% to €107.1 million and consequently operating profit rose by 24.5% to an interim record of €20.9 million. The net profit for the period attributable to shareholders amounted to €11.3 million compared to €8.9 million in 2024. The Directors of GO plc declared a net interim dividend of €0.07 per share, compared to last year’s interim dividend of €0.05 per share. The dividend represents a payout ratio of 62.9% (H1 2024: 56.9%) and is payable on Tuesday 2 September 2025 to all shareholders as at the close of trading on Wednesday 13 August 2025.

APS Bank plc rose by 2.0% to the €0.52 level on a single deal of 9,325 shares. The board recently declared a net interim dividend of €0.00472 per share which will be paid on 19 September 2025, subject to regulatory approval, to all shareholders as at close of trading on 28 August 2025. The Bank indicated that it plans to undertake a rights issue in the last quarter of this calendar year.

Also in the banking sector, Bank of Valletta plc moved 0.5% higher to a fresh three-month high of €1.95 over seventeen trades totalling 42,956 shares. The board recently declared a net interim dividend of €0.0556 per share, payable on 2 September 2025 to shareholders as at close of trading on 13 August 2025.

Also among large companies by market value, Malta International Airport plc moved 0.8% higher to the €6.00 level across four trades amounting to 2,424 shares. Yesterday, MIA announced that passenger movements in July 2025 amounted to 1,035,341, representing an 8.8% increase compared to 951,861 movements recorded in July 2024. This marks the first time monthly passenger movements ever surpassed the one million threshold. Passenger movements during the seven-month period ended July 2025 increased by 11.1% to 5.58 million. Meanwhile last Tuesday, MIA published its interim results covering the six-month period ended 30 June 2025. The Group’s net profit for the first half of 2025 amounted to a record interim level of €24.5 million. The Board of Directors declared a net interim dividend of €0.06 per share, which is unchanged from the previous year. The dividend is payable by no later than Friday 12 September 2025 to all shareholders as at close of trading on Tuesday 19 August 2025. The airport operator also upgraded its forecasts for the current year including passenger movement to reach 9.7 million (previous forecast: 9.3 million), revenue of €151 million (previous forecast: €147 million), EBITDA of €93 million (previous forecast: €91 million) and net profit of €49 million (previous forecast: €48 million).

AX Real Estate plc gained 0.6% to the €0.316 level albeit over trivial volumes.

Meanwhile, Malta Properties Company plc held the €0.312 level also on minimal activity. Yesterday MPC, published its interim results covering the six-month period ended 30 June 2025. Revenues declined by 19.4% to €2.26 million, primarily due to the expiry of several of the Group’s property leases towards the end of 2024. On the expenditure side, total operating costs were relatively unchanged at €0.69 million. MPC reported a net profit for the period of €0.50 million representing a 55.6% decrease from the €1.15 million recorded in the corresponding period of the previous year. Total equity eased by 1.6% (or €0.92 million) to €56.6 million, translating into a net asset value per share of €0.5587 (31 December 2024: €0.5677). The Board indicated that revenue is expected to increase in the coming months driven by a recovery in occupancy across its properties.

Hili Properties plc remained at the €0.24 level on one trade of 20,000 shares.

Main Street Complex plc closed unchanged at the €0.23 level on one deal of 400 shares.

The RF MGS Index shed 0.08% to 912.184 points. As expected, today, the Bank of England reduced the official Bank Rate by 25 basis points to 4.00%, marking the lowest level since March 2023. Nonetheless, the decision was narrowly passed amidst conflicting concerns of a weakening labour market and persistent inflationary pressures (now expected to be at 4%, up from the previous forecast of 3.7%). Following the decision, Governor Andrew Bailey commented that there are strong reasons to believe that the rise in headline inflation will not persist, as it is driven primarily by volatile food and energy prices. Moreover, Mr Bailey reiterated his view that interest rates remain on a downward trajectory, although he acknowledged that the path ahead has become more uncertain.

 

 

This report contains only public information and is not to be construed as investment advice or an offer to buy or sell 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.