Cairo – Mubasher: Pharos Research has set the fair value (FV) for Egyptian Transport and Commercial Services Co SAE (Egytrans) at EGP 12.58 per share, with an ‘Equalweight’ recommendation.

Egytrans is likely to report a stable performance this year with an expected growth rate averaging between 5% to 10% year-on-year, Pharos said in a research note on Thursday.

The Cairo-based research firm projected new developments in the Hamrawein plant to take place, in addition to petrochemicals projects’ bids to be launched, by the fourth quarter of 2019.

The company’s 2019 operating performance is expected to be similar to 2018, according to the research note.

In February, Egytrans reported a net consolidated profit of EGP 41.8 million for the full-year ended 31 December 2018, versus EGP 77.25 million in 2017.