M&Z operating profit surges 51% in H1

The MSE Equity Price Index increased by 0.68% to 3,864.355 points as the gain in BOV outweighed the declines in Farsons, Harvest, and Malita. Meanwhile, four other equities closed unchanged as trading activity amounted to €0.13 million. Download today’s Equity Market Summary.

Yesterday afternoon, M&Z plc published its interim financial statements covering the six-month period ended 30 June 2025. Revenue increased by 3.1% to €15.1 million while operating costs fell by 3.1% to €12.6 million as the company managed to incur lower cost of sales despite the increase in revenue. Consequently, operating profit surged by 51% to €2.52 million compared to €1.67 million in the corresponding period last year. In this respect, the operating profit margin improved to 16.7% compared to 11.4% in the first half of 2024. M&Z registered a net profit for the period of €1.52 million which is 60% higher than the €0.95 million figure recorded in the same period last year. The Directors approved an unchanged net interim dividend of €0.009 per share which translates into a payout ratio of 26% (H1 2024: 42%). The dividend will be paid on Tuesday 30 September 2025 to all shareholders as at the close of trading on Wednesday 27 August 2025.

Today, Lombard Bank Malta plc published its interim results which showed that net interest income eased by 1.2% to €13.1 million while net fee and commission income remained stable at €2.8 million. The consolidated results benefitted from the improved performance of the Group’s postal subsidiary MaltaPost plc. Overall, the net profit for the period attributable to shareholders surged by 27% to €8.5 million. When compared to the financial position as at end of 2024, shareholders funds as at 30 June 2025 increased by 3% to €215.9 million, which translates into a net asset value per share of €1.397.

Grand Harbour Marina plc also published its interim results which showed an improved operating performance at both the Maltese marina as well as the IC Çeşme marina, which is operated by an associate. Nonetheless, the performance was impacted by a lower deferred tax gain for the associate. Overall, GHM’s net profit for the period amounted to €1.43 million compared to €3.49 million in the same period last year.

Bank of Valletta plc was today’s most actively traded equity and also the only positive performer as it advanced by 3.7% to the €1.99 level across eight deals totalling 22,154 shares, although most of the shares exchanged hands at yesterday’s closing price of €1.90.

In contrast, Malita Investments plc fell by 3.1% to the €0.494 level across two deals totalling 33,355 shares. Malita is expected to publish its interim results tomorrow.

Simonds Farsons Cisk plc dropped by 3.3% to the €5.95 level across five trades totalling 1,091 shares, although most shares exchanged hands at the previous closing price of €6.15.

Harvest Technology plc plunged 19.5% to the €0.70 level on three deals totalling 8,432 shares. Earlier this week, Harvest published its interim financial statements which showed that revenues fell by 19.4% to €7.32 million reflecting declines in both the retail & IT solutions segment (-21.4% to €5.47 million) and the payment processing services arm (-13.1% to €2.23 million). Overall, Harvest recorded a net loss for the period of €0.06 million (H1 2024: net profit of €0.61 million). The Directors of Harvest Technology plc declared a net interim dividend of €0.015 per share which is 50% lower than last year’s interim dividend of €0.03 per share. The dividend is payable on 19 September 2025 to all shareholders as of the close of trading on 28 August 2025.

HSBC Bank Malta plc traded flat at the €1.40 level across five deals totalling 25,843 shares.

Hili Properties plc traded flat at the €0.24 level as 48,100 shares changed hands. The Board of Hili Properties is scheduled to meet on Friday 29 August 2025 to consider the approval of the interim financial statements for the six-month period ended 30 June 2025.

Malta International Airport plc stayed at the €6.00 level across two deals amounting to 1,341 shares.

GO plc closed unchanged at the €2.60 level across two trades totalling 1,600 shares.

The RF MGS Index increased by 0.05% to 907.983 points reflecting a marginal decrease in euro area sovereign bond yields. Signs of economic weakness across the bloc continued to emerge with the German consumer moral weakening and also below forecasts while the unemployment level in France rose to a four-month high in July.

 

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.