Trident achieves record operating profit, resumes dividend

The MSE Equity Price Index snapped a three-day winning streak as it fell by 1.28% to 3,750.108 points reflecting the declines of APS, GO, HSBC, MIDI, MIA, and MaltaPost. Meanwhile, six other equities closed unchanged as today’s trading activity amounted to €0.36 million. Download today’s Equity Market Summary.

Today, Trident Estates plc published the financial results for the year ended 31 January 2025. Revenue surged by 31% to €5.5 million reflecting the improved occupancy at Trident Park which reached 86% as at the end of the financial year. The Group also recorded a 10% reduction in costs, therefore operating profit surged by 68% to a record of €3.7 million. The financial performance was boosted by a €2 million fair value uplift relating to Trident House following multiple offers received for an outright sale of the asset as well as a favourable final Court of Appeal decision on a long-standing court case involving a squatter who claimed ownership. Overall, net profit amounted to €3.27 million compared to €1.05 million in the previous year. Total equity increased by 5% to €64 million, which translates into a net asset value per share of €1.525. The Directors of Trident resolved to recommend a final net dividend of €0.0119 per share, which will be the first dividend in six years. The dividend will be paid on Friday 27 June 2025 to shareholders as at the close of trading on Friday 30 May 2025, subject to approval at the upcoming AGM to be held on Thursday 26 June 2025.

MaltaPost plc fell by 4.8% to the €0.40 level over three deals totalling 12,502 shares. Yesterday, MaltaPost published the unaudited interim financial statements for the six-month period ended 31 March 2025. Revenue increased by 2.4% to €21.5 million reflecting steady performance across key business areas. Operating expenses decreased by 0.8% to €18.4 million. Consequently, operating profit nearly surged by 32.2% to €3.11 million from €2.35 million in the same period last year. Overall, the net profit attributable to shareholders amounted to €1.82 million which translates into an annualised return on average shareholders’ funds of 11.7% (H1 2023/24: 11.1%).

APS Bank plc plunged by 11.9% to the €0.48 level across six trades totalling 11,196 shares.

Also in the banking sector, HSBC Bank Malta plc dropped by 2.8% to the €1.40 level across two deals amounting to 8,976 shares.

GO plc shed 0.8% to the €2.56 level on two deals amounting to 8,100 shares.

MIDI plc plummeted by 18.7% to the €0.20 level on volumes of 26,000 shares.

Malta International Airport plc eased by 0.8% to the €5.95 level on trivial volumes.

Bank of Valletta plc was today’s most actively traded equity as it closed unchanged at the €2.00 on six trades totalling 126,350 shares. BOV held its AGM today, which approved all resolutions on the agenda.

FIMBank plc held the USD0.12 level on a single trade of 4,680 shares.

Hili Properties plc traded flat at the €0.24 level across 130,000 shares.

Mapfre Middlesea plc and Malta Properties Company plc held the €1.42 and €0.31 levels on muted activity.

Simonds Farsons Cisk plc traded flat at the €5.90 level on three deals totalling 3,836 shares. Following yesterday’s close of trading, Farsons published the financial results for the year ended 31 January 2025. The Group reported higher income across both the beverage and food businesses which resulted in a 6.5% increase in total revenue to €141.5 million. Operating profit of both segments combined increased by 7.9% to €18.8 million and net profit reached a record of €18.6 million, which is 21.9% higher than the previous financial year. The Directors of Farsons resolved to recommend a final net dividend out of tax-exempt profits of €0.14 (2024: €0.11) per share. The dividend will be paid on Friday 27 June 2025 to shareholders as at the close of trading on Friday 30 May 2025, subject to approval at the upcoming AGM to be held on Thursday 26 June 2025. When including the net interim dividend of €0.06 per share paid in October 2024, the total net dividend attributable to FY2024/25 amounts to €0.20 per share, which is 25% higher than the total net dividend attributable to the previous financial year.

The RF MGS Index fell by a further 0.13% to 915.646 points. Data published today showed that the US economy contracted marginally in the first quarter of 2025, however the 0.2% drop was less than the anticipated decline of 0.3%. Furthermore, the pending home sales in the US fell by 6.3% in April, the highest decline in a year.

 

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.