Cairo – Mubasher: The research unit of Pharos Holding has set the fair value of the Egyptian Financial Group Hermes Holding (EFG Hermes) at EGP 23.4 per share, placing a ‘buy’ recommendation on the stock.  

The evaluation is backed by the company’s financial results for the fourth quarter of 2019, Pharos Holding said in a recent report.

For the full-year 2019, EFG Hermes reported net profits of EGP 1.4 billion, up from EGP 1.05 billion in 2018, including minority shareholders’ rights.