Mubasher: Bahrain-based SICO Bank has set the fair value of the stock of Alafco Aviation Lease and Finance Co. at 360 fils, with an ‘Overweight’ recommendation.

The positive valuation of Alafco’s share resulted from the company’s presence in various markets, the stability of its profits, and the operational cash inflows, SICO said.

Alafco posted a decrease of 64% in profits to KWD 9.25 million during the first half ended on 31 March this year, from KWD 25.37 million in the six months ended on 31 March 2018.