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Alexandria Containers seen posting EGP 600m profits for 2015

Alexandria Containers seen posting EGP 600m profits for 2015
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Alex Cont
ALCN
-4.74% 34.20 -1.70

Cairo-Mubasher: Alexandria Container and Cargo Handling is expected to report more than EGP 600 million in net earnings for 2015, after excluding the exceptional  gains such as the foreign currency exchange differences, MubasherTrade said in a report.

The stock must trade at a P/E ratio of 15x even if the future growth slows down, due to the monopolistic nature of competitors in the infrastructure field.

The company posted a 65.6% surge in net earnings for the nine-month period ended 31 March to EGP 618.2 million, compared with EGP 373.41 million a year earlier.

Alexandria Container operates with EGP 123.2 million in capital, divided into 24.6 million shares at a par value of EGP 5 each.