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PG announces strong year-end results

The MSE Equity Total Return Index registered an advancement of 0.35 per cent, to close at 8,948.564 points. A total of 19 issues were active during the week, out of which 10 closed lower, six gained ground while three closed flat.

Total turnover spiked from €2.16m to €4.92m as six companies reported their interim and/or year-end results.

On Friday, PG plc issued its financial statements for the year ended April 30. The company registered an annual profit before tax of €10.8m compared to €6.7m in the same period in 2016.

This surge in annual profit before tax can be explained further by a number of material changes in the composition of the Group.

The Group increased its shareholding in PAVI Supermarket from 50 to 100 per cent in 2015. Moreover, PAMA opened for business in October 2015 and the financial year ended April 30, 2016 only includes six months operation of the supermarket and its related retail outlets.

Last Thursday, the Board of Directors of FIMBank plc met in London to approve the Consolidated and the Bank’s Interim Financial Statements for the six months ended June 30.

The Group registered a profit before tax of $4.23 million compared to $2.15 million registered during the same period in 2016.

Operating income for the period under review amounted to $25.69 million, an increase of 17.4 per cent from 2016.

Meanwhile, the board of directors of Bank of Valletta plc decided to voluntarily provide early disclosure of summary financial information and its subsidiary entities for the interim six-month period ended June 30. The Group registered an increase in profit before tax by €5 million, higher than the comparative period in 2016 – adjusted to exclude for the one-off gain arising on the disposal of the Bank’s interest in Visa Europe.

Return on Equity (ROE) before tax stood at 18 per cent, whereas, net interest income for the period under review amounted to €72m .

In the same sector, HSBC Bank Malta plc was the weakest performer among its peers, as the equity hit a seven-month low of €1.91 intra-week, to end the week at the €1.955 price level.

Lombard Bank plc shares followed suit as two trades amounting to 2,130 shares saw the equity close 1.3 per cent lower at €2.36.

Last Tuesday, Malta International Airport plc announced that the number of passengers passing through the terminal in July increased by more than 90,000, signifying an upturn of 15.5 per cent over the same month last year.

Despite registering positive traffic result, the equity lost 0.6 per cent of its value to close at €4.20 - 11 trades generated a total turnover of €165,361.

In the oil and gas industry, Medserv plc shares started off the week on a negative note, hitting a two-month low of  €1.20. The equity strongly rebounded during Tuesday’s session, to close the week 7.4 per cent higher at €1.343.

RS2 Software plc shares closed the week slightly in the red, down by 0.1 per cent to €1.788. A total turnover of €67,277 was generated among eight trades.

Similarly, MaltaPost plc shares lost one per cent of its share price to close at €1.98 – hitting a two-week low.

On a more positive note, three trades of 15,894 shares in International Hotel Investments plc saw the equity price move up by three per cent to close at €0.618

During the meeting of the board of directors of Malita Investments plc held on Tuesday the Company’s condensed interim financial statements for the six months ended June 30 were approved. The company registered a profit before tax of €9.7m, compared to €4.9m registered during the same period in 2016.

Last Monday, Malta Properties Company plc announced that the Board of Directors of the Company approved the Group Interim Unaudited Financial Statements for the six-month period ended June 30.

The Group  registered a profit before tax of €727,774m compared to €928,358m registered during the same period in 2016.

Last Thursday, Tigne’ Mall plc announced that the Board of Directors of the Company considered and approved the condensed Interim Financial Statements for the six-months ended June 30.

The Group registered a profit before tax of €1.56m compared to €1.42m registered during the same period in 2016.

On Wednesday, MIDI plc advised that further to its Company Announcement issued on August 4, the board  meeting  at  which  the  half  yearly  report  and  accounts  for  the  period ended  June 30 will  be  considered and approved, has been rescheduled for August 28, 2017.

Plaza Centre plc shares registered the weakest performance among its peers as the equity closed in the red by 4.3 per cent to close at €1.10.

On the same note, Mapfre Middlesea plc shares hit a two-year low, closing the week at €1.855, as six deals were dealt over slim volume.

Meanwhile, Santumas Shareholdings plc shares reached a fresh all-time high at €2.20.

Despite being active during the week, GO plc and Loqus Holdings plc shares closed flat at €3.60 and €0.175 respectively.

In the sovereign debt front, a total of 24 issues were active, as 14 gained ground, eight closed the week in negative territory, while two closed flat. 

Meanwhile, in the corporate debt front, a total of 30 issues were active, out of which eight closed lower, 13 closed higher, while nine remained unchanged.

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