Trading in BMIT & MIDI dominate activity

The MSE Equity Price Index opened the week slightly higher as it added 0.02% to 4,705.554 points. Overall, six equities trended in positive territory including BMIT and MIDI, both of which traded on robust volumes. On the other hand, BOV, HSBC and GO posted declines whilst a further three shares closed the day unchanged.

BMIT Technologies plc advanced 1% to recapture the €0.53 level on strong activity totalling 546,531 shares having a market value of €0.29 million. The company is due to hold its AGM on 27 May.

Similarly, MIDI plc rebounded by 1.7% from its 2019 low of €0.59 to the €0.60 level across 432,998 shares having a market value of €0.26 million. Last Thursday, MIDI reported record revenues of €52.5 million and a net profit of €11.6 million for the 2018 financial year largely reflecting the delivery a large part of the apartments within the Q2 residential block.

Shareholders as at close of trading on 8 May will be entitled to a net dividend per share of €0.008 (representing an increase of 14.3% over the previous year). Looking ahead, the Directors explained the progress being made with respect to the Manoel Island project as well as plans for the development of the last...