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Malta Properties Company sees 20% increase in profit after tax

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The MSE Equity Price Index slid by a further 0.34% to 3,844.256 points on Thursday. The declines in BOV, GO, MIA and MIDI outweighed gains in RS2, PG, Medserv and Malita whilst Mapfre ended the day unchanged. GO plc dropped by just over 3% to an 11-week low at the €3.20 level on weak volumes of 1,366 shares. GO will be publishing its annual financial statements on 11 March. Similarly, Bank of Valletta plc fell by 1.7% to a 3½ month low at the €0.90 level across 34,640 shares whilst its insurance subsidiary, Mapfre Middlesea plc, traded unchanged at the €2.24 level across a single deal of 1,552 shares. Malta International Airport plc shed 1.7% as it dropped to a near 3-month low at the €5.95 level across 8,699 shares. On Wednesday, MIA published its annual report and financial statements for 2020. As a direct consequence of the coronavirus pandemic, the airport operator suffered a drop of 76.1% in passenger traffic which subsequently led to a €68 million decrease in revenue. Overall, the airport operator reported a net loss for the year of €4.63 million when compared to a record profit after tax of €33.9 million in 2019. Looking ahead, management explained that the return to...


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