Issue link: https://maltatoday.uberflip.com/i/895147
maltatoday WEDNESDAY 1 NOVEMBER 2017 12 Business Today Regular market closed – 31/10/2017 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change l BOV 64,184 128,338.27 16 2.010 1.990 1.990 2.000 0.000 t GCL 10,000 3,570.00 1 0.357 0.357 0.357 0.357 -0.003 l LOM 14,650 32,263.94 5 2.203 2.201 2.203 2.201 0.000 s RS2 30,000 48,063.62 6 1.640 1.590 1.590 1.640 0.050 l G22B 6,000 7,149.00 2 119.150 119.150 119.150 119.150 0.000 l G24A 18,000 21,367.80 1 118.710 118.710 118.710 118.710 0.000 s G30A 7,000 10,010.00 1 143.000 143.000 143.000 143.000 0.590 s G32A 350,000 484,190.00 2 138.340 138.340 138.340 138.340 0.890 s G32B 100,000 135,820.00 1 135.820 135.820 135.820 135.820 1.070 s G33A 20,000 27,000.00 1 135.000 135.000 135.000 135.000 0.980 l G34A 10,000 13,167.00 1 131.670 131.670 131.670 131.670 0.000 s G35A 21,700 22,760.25 3 105.000 104.250 104.250 105.000 1.580 s G36A 179,300 194,577.35 7 108.800 107.900 107.900 108.800 0.940 s G39A 351,300 354,513.82 23 101.060 100.500 100.500 101.010 0.490 s G40A 241,700 281,304.44 7 116.570 116.000 116.000 116.470 0.470 s G41A 16,000 16,878.00 3 105.500 105.400 105.500 105.400 0.400 t BV19B 40,000 41,500.00 2 103.750 103.750 103.750 103.750 -0.500 l BV30A 110,000 110,000.00 6 100.000 100.000 100.000 100.000 0.000 s CB21A 3,000 3,120.00 1 104.000 104.000 104.000 104.000 0.490 l CB27A 7,000 7,175.00 1 102.500 102.500 102.500 102.500 0.000 s EF27A 60,000 61,775.00 2 103.000 102.950 102.950 103.000 0.900 l GP23A 7,300 7,446.00 2 102.000 102.000 102.000 102.000 0.000 l IG24A 5,000 5,325.00 1 106.500 106.500 106.500 106.500 0.000 t MF24A 4,000 4,260.00 1 106.500 106.500 106.500 106.500 -0.500 l MI21A 35,000 35,840.00 2 102.400 102.400 102.400 102.400 0.000 s MI22A 2,100 2,185.26 1 104.060 104.060 104.060 104.060 0.560 l PC26A 11,000 11,357.50 1 103.250 103.250 103.250 103.250 0.000 l PT24A 31,000 32,085.00 3 103.500 103.500 103.500 103.500 0.000 l SD27A 15,200 15,776.08 1 103.790 103.790 103.790 103.790 0.000 s SF27A 21,300 22,264.50 5 105.500 104.500 104.500 105.500 0.500 s ST27A 80,000 81,489.00 10 102.000 101.500 102.000 101.990 1.990 l VH24A 15,000 14,925.00 1 99.500 99.500 99.500 99.500 0.000 Market Summary as at 31/10/2017 Equity Official List Session State ................................................................... Market Closed Number of trades ............................................................. 113 Volume Traded ................................................................. 1,771,734 Value of € denominated securities .................................... 2,120,698.83 Value of US$ denominated securities ................................ 0.00 Value of GBP£ denomi nated securities .............................. 0.00 Current Index ................................................................... - Previous Index ................................................................. - Change in Index (%) ......................................................... - Bank of Valletta plc ........................ 2.000 0.00% Medserv pl .................................... 1.260 0.00% FIMBank plc .................................. 0.700 0.00% Mapfre Middlesea plc .................... 1.920 -0.36% GlobalCapital plc ........................... 0.360 0.00% MIDI plc ........................................ 0.320 0.31% GO pl............................................. 3.596 0.17% Plaza Centres plc ........................... 1.109 0.00% Grand Harbour Marina plc ............. 0.726 0.00% RS2 Software plc............................ 1.590 -0.63% HSBC Bank Malta plc ..................... 1.860 0.05% Simonds Farsons Cisk plc ............... 9.650 0.00% International Hotel Investments plc 0.610 0.00% Tigné Mall plc ................................ 0.960 0.00% Lombard Bank Malta plc ................ 2.201 -4.30% Pefaco International plc ................. 2.240 0.00% Malita Investments plc ................... 0.751 -6.13% Santumas Shareholdings plc ......... 2.250 0.00% Malta International Airport plc ....... 4.76 -0.63% Malta Properties Company plc ........ 0.507 0.00% MaltaPost plc ................................. 2.079 1.41% PG plc ........................................... 1.500 0.00% MSE Index Ryanair set for record year despite recent troubles Budget airline expecting record profit after tax of between €1.40bn and €1.45bn, in spite of recent pilot scheduling issues that forced it to cancel 20,000 flights Ryanair shares soared early yes- terday after the low-cost carrier said it is still on track to turn a record annual profit this year despite recent troubles. Last month the Irish airline announced plans to cut 20,000 flights over the winter months due to a cock-up over pilot holiday scheduling, while more generally the industry has had to deal with falling ticket prices amid increased competition. Those issues did not affect first-half performance though, with Ryanair making a €1.29bn profit in the six month ended 30 September, up from €1.17bn a year earlier. Helping to drive the bottom line growth was a sharp increase in passenger numbers which jumped 11% to 72.1mln (H1 2016: 64.8mln). 'Strong H1 numbers' "These strong H1 results reinforce the robust nature of Ryanair's low fare, pan- European growth model even during a period which suffered a material failure in our pilot rostering function in early September," said chief executive Michael O'Leary. But it was the full-year forecast that seemed to please investors. Many in the City had thought the recent issues would hit profitability, but Ryanair said it could "see no reason" to change its profit after tax guidance of between €1.40bn and €1.45bn. That maintained guidance comes despite Ryanair grounding 25 of its aircraft over the next six months which will see traffic slow from 131mln to around 129mln customers. The company expects ancillary spend per customer – things like snacks, drinks, gifts etc – to rise by 1% this year which will offset some of the reduced volume, while bookings are ahead compared to this time last year, albeit at slightly lower prices. €25mln compensation hit from flight cancellations, "materially higher" pilot pay Even though it still expects record profits this year, the Dublin-based airliner will take a €25mln one-time hit from the recent disruption, as well as a steep jump in annual crew costs. The "perfect storm of one- off pilot shortages" will cost around €25mln in one-off compensation payments to affected travellers, while additional pilot costs will add another €45mln to its crew costs this year. That second figure could possibly head up towards €100mln in the next full year. The decision to give its pilots "materially higher" pay – 20% higher, in fact – is to try to stop them from defecting to rival airlines such as Norwegian Air, who were namechecked in Tuesday's statement. Ryanair did add that the higher crew costs going forward "will not significantly alter the substantial unit cost advantage" it has over its rivals. 'What was all the fuss about?' "More passengers, lower fares and on course for another record profit - investors might be wondering what all the fuss was about in the wake of September's cancellation fiasco. "But beneath the rising revenues and passengers there are concerns about rising labour costs that will affect Ryanair's unit cost advantage over peers. "Ex-fuel, [costs] will be 3% higher this year. Partly it's compensation costs but it's also because Ryanair plans to pay pilots more. "This should prevent future disruptions but it comes at a cost of €100m every year (€45m for FY18). Whilst the airline says that this will not affect the hefty unit cost advantage it has over competitors, it will undoubtedly have a material impact on earnings." Shares in the airline were up 5% to €16.60 in mid-morning trade yesterday.