MIDI shares drop to new all-time low

The share price of MIDI plc slumped 13.8% during this morning's session of the stock exchange to a new all-time low of €0.25 on high volumes of 505,000 shares. Recently, the property developer published its 2012 half-year results revealing a loss of €1.05 million mainly due to the significant decline in revenue given the limited stock of apartments available for sale. The directors expect this trend to continue in the second half of the year which will lead to an overall loss position for 2012. Construction works will now be focused on the last phases of Tigne Point comprising two residential blocks and a business centre. (Further details on the results available at http://rizzofarrugia.com/news-events/2012/interim-results-midi07/ ) International Hotel Investments plc also closed in negative territory today with a 7.1% drop to a new 4-month low of €0.79 on a single trade of 9,342 shares. Malta International Airport plc's share price also retreated by 0.3% back to the €1.74 level despite yesterday's announcement of a new monthly record of 461,153 passenger movements during the month of August. In the first eight months of 2012, MIA registered a 3.7% growth in passengers compared to...