Interim reporting season started
The interim reporting season in Malta started last week, and over recent days, six equity issuers published their interim financial statements for the six-month period ended June 30. A number of bond issuers also began issuing their interim financial statements. The reporting season is always a very important time for the financial markets, both in Malta and more so overseas (where companies report on a quarterly basis), since it allows investors to gauge the financial performance and prospects of a company or a particular sector. Moreover, the reporting season allows companies to explain the key business initiatives being undertaken to grow shareholder value. Invariably, at times, share prices become particularly volatile during the reporting season as the market reacts to the announcement and to the guidance provided by companies. For instance, last Friday’s seven per cent decline in the share price of Amazon.com in response to the publication of the results and forecast the prior day, is a very good example of the volatility experienced at times during the reporting season. The 2021 interim reporting season in Malta is also hugely important since it will enable investors and...