Pharos Research set the fair value estimate for Alexandria Containers & Cargo Handling Co. at EGP 206.4 per share and placed a Buy recommendation on the stock.
The research firm expected Alexandria Containers FY14/15 net profit to rise by 18% to EGP 635.6 million, compared with EGP 538.7 million in FY13/14. It also forecasted net profit to rise to EGP 725 million in FY15/16.
The company’s financial results for the three-month period that ended on September 30, 2014 had mirrored EGP 177.2 million net profit, with 38% increase y/y from EGP 128.3 million.
The company had posted EGP 538.7 million net profit for the fiscal year that ended on June 30, 2014, with 40% growth year-over-year from EGP 384.9 million.
The company’s board had endorsed unaudited financial indicators for July, 2014, which mirrored EGP 46.773 million net profit after tax, compared with EGP 39.560 million in the same period a year earlier.
Financial results for the eleven-month period from July 1, 2013 till May 31, 2014 had shown that net profit rose 20% to EGP 472 million, compared with EGP 392 million net profit in the same period a year earlier.