Main Street Complex suspends dividend amid faltering footfall

The MSE Equity Price Index fell by 0.68% to 3,835.463 points as the declines in BOV, HSBC, Medserv, and Malta Properties outweighed the gains in APS, Malita, and Farsons. Meanwhile, two other equities closed unchanged as today’s trading activity was muted amounting to around €70,000. Download today’s Equity Market Summary.

Today, Main Street Complex plc published its interim financial statements covering the six-month period ended 30 June 2025. Revenues decreased by 6.8% to €0.34 million as the footfall dropped by 21% when compared to the same period last year. The occupancy level of the retail and entertainment complex as at 30 June 2025 stood at the 90% level, in line with the previous year. Meanwhile, operating costs surged by 19% to €0.20 million. As a result, operating profit fell by 28% to €0.14 million. The net profit for the period amounted to €0.09 million. The company’s equity base remained virtually unchanged at €9.5 million which translates into a net asset value per share of €0.488. The Board of Directors stated that no dividend will be paid in respect to the current financial year 2025. In their commentary, the Directors noted that the current year continues to be challenging, with a decline in footfall expected to persist, adversely affecting revenues and profitability. Furthermore, most of the concession agreements are set to expire between December 2025 and March 2026. The company is having negotiations with existing and potential tenants, which may require reconfiguration of spaces and a change in the business concepts of tenants operating within Main Street Complex. Furthermore, the Board is also exploring alternative strategies aimed at revitalising the complex, including through expert evaluations, and with a longer execution period.

Bank of Valletta plc shed 1.1% to the €1.88 level over six deals amounting to 8,249 shares.

Also in the banking sector, HSBC Bank Malta plc slumped by 4.7% to the €1.42 level albeit over trivial volumes.

Malta Properties Company plc plummeted by 8.8% to a one-month low of €0.31 on two deals totalling 6,500 shares.

MedservRegis plc fell by 4.5% to the €0.42 level on one trade of 2,000 shares.

On the other hand, APS Bank plc rose by 1.9% to the €0.53 level on a single deal of 5,677 shares.

Simonds Farsons Cisk plc surged by 3.3% to the €6.25 level over three trades totalling 7,300 shares.

Malita Investments plc climbed 1.2% to the €0.50 level on one deal of 6,000 shares.

Meanwhile, BMIT Technologies plc traded flat at the €0.30 level on two deals amounting to 3,313 shares.

Harvest Technologies plc held the €0.87 level on muted activity.

Today, Santumas Shareholdings plc announced that its Board of Directors is scheduled to meet on Friday 29 August 2025 to consider the approval of the company’s audited financial statements for the year ended 30 April 2025.

The RF MGS Index increased by 0.07% to 909.259 points as the labour market in the US continues to show signs of a cooldown. In fact, the number of Americans filing for unemployment last week was higher than expected and accounted for the largest weekly amount in the last eight weeks. Meanwhile, the total number of unemployed Americans at the end of the week was also higher than anticipated, reaching the largest figure in almost four years.

 

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.