MIA expects 14% increase in profits in 2024

 

The MSE Equity Price Index fell by 0.47% to 3,808.946 points as the declines in APS, BOV, MIA, and Main Street Complex outweighed the gain in PG. Meanwhile, four other equities remained unchanged. Download today’s Equity Market Summary. 

Malta International Airport plc fell by 1.7% to the €5.85 level over two deals amounting to 375 shares. Following the close of trading, MIA published the October traffic results, the financial results for the first nine months of the year, together with a revised guidance for the full year. The passenger movements in October amounted to 838,393, which represents 8.7% growth from the same period last year. The nine-month financial performance to the end of September showed a 17.7% increase in revenue to €107.8 million, which translated into a net profit for the period of €39.5 million. Based on the strong performance, MIA revised its full-year guidance figures with passenger movements expected at 8.96 million compared to May’s forecast of 8.45 million. The annual revenue is expected at €141 million (previously €132 million), EBITDA of €85 million (previously €82 million) and a net profit of €46 million (previously €44 million and 14% above the actual net profit of €40.3 million in 2023).

Bank of Valletta plc shed 1.2% to the €1.71 level across eight trades totalling 30,635 shares.

Also in the banking sector, APS Bank plc moved 0.9% lower to the €0.565 level on a single deal of 3,500 shares.

Main Street Complex plc slumped by 6.3% to an all-time low of €0.30 level over trivial volumes.

PG plc moved 0.5% higher to the €1.91 level on two deals amounting to 1,570 shares.

BMIT Technologies plc held the €0.35 level on one trade of 11,300 shares.

MIDI plc closed unchanged at the €0.23 level over four deals amounting to 15,100 shares.

Simonds Farsons Cisk plc and Santumas Shareholdings plc also closed unchanged at the €6.70 and €1.24 level respectively on muted activity.

The RF MGS Index fell by 0.25% to 909.709 points, reversing most of the gains in the previous two sessions amid concerns of a rebound in inflation in the US. Data released today showed that US inflation increased for the first time in seven months to 2.6% in October, from 2.4% in the previous month. The slower decline in energy prices outweighed the lower inflation in food and transportation prices. Shelter prices were a large contributor to the rise in inflation as they moved 0.4% higher month-over-month in October and increased by 4.9% on an annual basis.

 

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.