The share price of MaltaPost plc rallied by 15.4 per cent during this morning’s session to regain the 90c level on strong volumes of just over 65,100 shares.
The market responded positively to the decision by the company’s directors to maintain the final net dividend at 4c per share despite a 31.1 per cent drop in profits to €1.33 million.
Moreover, the results announcement for the financial year ended September 30 also indicated that MaltaPost is expected to start recovering from the negative impact of the revised tariff structure of the Union Postal Union (UPU) during the current financial year ending September 30 next year after the postal operator obtained approval from the Malta Communications Authority (MCA) to increase its tariffs.
MaltaPost also announced its plans to continue seeking ways to grow its business. In this respect, the Company announced its intention to enter the insurance market.
Medserv plc’s shares also advanced by by 2.6 per cent to close at the €3.95 level after the company announced an extension to its current lease on the logistics base in Malta. The new 15-year lease will kick-in once the current agreement expires in 2045 and will run until 2060.
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